The Socialist Program with Brian Becker Health Insurance Companies Rake in Billions While Health Care Is Ignored
6 snips
Dec 18, 2024 
In this discussion, Professor Richard Wolff, a leading voice in economic justice and co-founder of Democracy at Work, dives into the shocking $9 trillion earnings of health insurance companies since 2010. He highlights how these firms prioritize shareholder profits, such as $120 billion in stock buybacks, over patient care. Wolff contrasts the profit-driven U.S. healthcare system with Cuba's community-focused model, emphasizing the dire need for accessible health services and critiquing corporate greed's impact on public health.
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Capitalism in US Healthcare
- UnitedHealth Group's actions, like maximizing profits and minimizing costs (especially labor), are typical capitalist behaviors.
- Their success stems from minimizing costs and maximizing revenue to increase profits, not from unique policies.
United Front in Healthcare
- US healthcare's high cost is due to a united front of hospitals, doctors, drug/device makers, and insurers.
- This alliance maximizes profits by collectively raising prices for consumers and businesses.
French Healthcare System
- Wolff's French relatives receive comprehensive, free healthcare from birth to death.
- They find the American claim of having the "best" healthcare laughable, citing better quality and affordability in France.
