Coin Stories
Bonus: A Bitcoin Cure For Skyrocketing Health Insurance Costs with Andy Schoonover
Dec 20, 2023
Andy Schoonover, CEO of CrowdHealth, discusses the high cost of medical insurance and how the Bitcoin community is coming together to provide affordable care. They explore the benefits of using Bitcoin for healthcare payments, reducing fees and increasing privacy. The podcast also highlights the financial stress of medical bills and the importance of community support.
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Quick takeaways
- CrowdHealth aims to disrupt the healthcare industry by offering a Bitcoin alternative to traditional health insurance, providing direct payments to individuals in need.
- CrowdHealth focuses on promoting healthy eating and low-carb diets to reduce obesity rates and improve healthcare outcomes, resulting in significant cost savings for its members.
Deep dives
CrowdHealth: A Bitcoin Alternative to Health Insurance
CrowdHealth is a Bitcoin alternative to the traditional health insurance system. By directly paying individuals in need, CrowdHealth aims to disrupt the inefficiencies and rent-seeking practices of the healthcare industry. They have successfully kept prices down for their members through internal processes such as cash pay and have introduced Bitcoin into their system. Initially, they allowed members to save any unused healthcare funds in Bitcoin, but due to custodial challenges, they changed the approach to allow members to keep the money and invest it as they please. For the future, CrowdHealth plans to further incorporate Bitcoin, aiming to transact a portion of the healthcare market with the cryptocurrency.
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