The $500 Billion Monopoly That No One Ever Questions

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With the rise of social media, people have become more aware of evil corporations than ever before. Whether it be companies prioritizing profits over lives or invading our privacy, virtually every company is subject to some sort of criticism. One juggernaut that has more or less gone almost completely unnoticed, however, is United Health Group. One of the main reasons that United Health doesn’t receive too much criticism is that they mostly deal with companies and institutions. So, people rarely deal with companies firsthand. This just makes it even easier for United Health to get away with unfriendly practices and get away with it. Basically, all health insurance companies leverage networks, deductibles, and unsound medical advice to maximize premiums and minimize payouts. United Health has also been caught overcharging Medicare and their most profitable quarter of all time was during the second quarter of 2020 which was the peak of the pandemic. This video explains the various shady activities of United Health Group and the truth behind the $500 billion shadow company that no one ever questions.

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Timestamps:
0:00 - United Health Group
2:25 - Fundamentally Flawed
5:20 - Dissuading Healthcare
8:00 - Ripping Off Medicare
11:05 - The Solution

Thumbnail Credit:
Krisztian Bocsi | Bloomberg

Resources:

Disclaimer:
This video is not a solicitation or personal financial advice. All investing involves risk. Please do your own research.

[PS-ugnm]

Medical infrastructure in the US is so flawed...

[daforst]

As someone who will be having to sue UHC for denied coverage I'm not sure the solution but UHC is the worst insurance I've ever had.

[mr.gamewatch]

It's time we actually enforce anti-trust laws. It's a disgrace they haven't been enforced for 40 years now

[ll]

As someone who works at a hospital in the billing and claims department this is very fascinating to me. Thank you.

[bardragoon]

One thing this video didn't touch on but that I just watched happen for the second time is Foundation Acquiring.
A medical foundation is basically a massive medical entity where (usually) a business that provides health administration (where doctors pay for a professional company to handle their bills, staff, taxes, ect) collects general practitioners and specialty groups under a government recognized entity. The group then collectively gets massive tax breaks and rebates. Most doctors or specialty sites generally belong to some sort of medical group but many are moving these million dollar foundations.
Anyway... United Healthcare, at least since covid, is swooping in a buying these foundations up.
For example, the place I used to work at was the largest foundation in central California. With United Healthcare acquiring it, it now has indirect control over the single largest general practitioner and specialty group service in a massive section of California. With the benefits a foundation group provides, physicians feel they have to stay or risk losing business and rate breaks.
That's a ton of power to have.

[johnpatrick]

Last year's quote for Obamacare for me was a $12, 000 premium and a $7, 000 yearly deductible since I don't qualify for the subsidy welfare. I live offshore and pay $1, 300 a year. In 2020 I spent 5 days in the hospital in a private room and had zero dollars out of pocket. An office visit for a chest x-ray, blood test, and consult cost me $14.00 out of pocket. Since I have lived offshore I have saved $120, 000 in Ocare premiums plus a $7000 deductible had I stayed in a US hospital in 2020.

[thesuppcollector]

As a former employee I would like to say that part of what determines how much your health insurance covers is how large your bargaining group is. That being said, that doesn't mean they will automatically cover certain things, and they treated the employees like crap when I was there. The 8th largest company in the world couldn't provide sick time. Need to take time off? Needs to be submitted 2 weeks in advance. Got sick and can't give advance notice? That's a strike. 3 strikes and you're out.

[Nhan_nguyen]

I think a health care system like Singapore is a good reference, it is tightly regulated but still allow competition for add on package after people purchase the standard set.

[shawnkhalifa]

All of what you people say is so true. I work for a major insurance company and I have a very important role. The insurers and employers have no idea what they’re doing at least 65% of the time. The government simply doesn’t care about the welfare of the people. I hope we can improve this soon because my heart goes out to these patients sometimes.

[dylangtech]

Wow! I never even took the time to think about the networks, and I haven’t been employed (as an adult) for long enough where I have to think about this. I may be an engineer, but I’m a new one that isn’t so deep into the swamp.

My philosophy is that the government is terrible at spending people’s money, but they’re really good at banning things if there is popular support for it. That’s where I think the solution lies: Chip away at corporate plans and eventually enforce a single-payer system like any other insurance. It breaks the monopolies and encourages competition that will (possibly) trickle to the rest of Big Pharma


This is a very good video, and I like how you don’t bandwagon on big topics like many other business-focused YouTube channels (I won’t name names). You’re doing us a service by covering these issues that can slip through the cracks.

[pappaflammyboi]

To reverse the effects of the WWII insurance tactic is to require employers to provide the option of cash equivalent coverage of the insurance so that the industry eventually rights itself by public price competition.

[skrazer]

Also, most employer sponsored healthcare plans are not "free". Employers deduct your premiums from each paycheck. Premiums typically add up to $300-$600USD/month, and those costs *skyrocket* if you have dependents on your plan.

Some employers will pay a percentage of your monthly premium (typically around 25% to 50%), but you're still paying a premium. "Good health benefits" can refer to employers who split the premium costs. But it can also mean that the provided plans are better than the average plans in terms of coverage et al.

[dinukadahanayake]

I work for a revenue cycle management (which is what you call the whole usa healthcare system finances) in Sri Lanka. We work with multiple clients and insurances and as someone who lives in a country with free healthcare, I don’t think anyone can even imagine the messed up system of us healthcare without living there of working for them. It’s a very complex business milking people for their money till they are broke, it’s sad.

[danielvasquez]

I don’t know brother. All these shadowy companies scare me!!

[bobgomez]

Thank you for this guys, spreading awareness about those unscrupulous vultures is a massive public service and the information can also be extrapolated to destructive insurance company practices all over the world. You guys are doing a lot of good and making the world a better place.

[johnpatrick]

Fifteen years ago needed a noncovered pre-existing condition 1 to 2-night hospital stay for a common procedure. After the discount hospital wanted $54k and the doc wanted $4300.
Had a medical auditor work up the numbers and they said the direct and indirect costs to my hospital were $17k to do the job. Medicaid would pay $9k to the hosp and $1, 200 to the doc and insurance cos would pay $22k to $25k. I flew to France and had it done for $13k thanks to a friend who had the same procedure done there.

[msbdevil]

I work in Amazon India and United healthcare is my insurance provider too. This is scary

[Hundt]

I don’t know what to say, your channel is just amazing!

Very eye opening and objective! You deserve more views and subscribers; you will hit it big one day!

[matthew]

There’s an idea I’ve been thinking of for a new health insurance company, the non-profit.
Here’s how it works:
1. All members have negotiate a cash prize for their doctors (none of this in or out of network bill).
2. The non-profit either pays the doctor directly or reimburses the member.
3. The bills of all members are added up and divided out equally each month to all members alongside a fee to pay the small accounting staff.
4. Any up front capital needed to cover bills until the members pay is either covered using a line of credit from a bank, or from funds contributed by generous members paying extra (either for a tax deduction or as a no-interest loan to be refunded shortly after membership ends).
No premiums to invest in the stock market, no dealing with deductibles, no executive staff or board of directors, just spreading out the costs among members.
I’ve even thought about adding a line on bills for optional contributions for things like advertising (to attract new members).

[johnpatrick]

The system is designed to be costly. The customer pays for insurance, not actual healthcare. The insurance company middleman which has deep billion-dollar pockets pays the hospitals and doctors. Since deep pockets insurance companies pay for the actual care the providers expect a big piece of the pie.