The Bitcoin Way Podcast The Fix For Fiat Health Insurance with Andy Schoonover | Ep. #52
Feb 21, 2025
Andy Schoonover, CEO of CrowdHealth and a pioneer in community-based healthcare funding, discusses the flaws of traditional health insurance. He emphasizes the need for personal responsibility and innovation in healthcare, advocating for a community-driven model inspired by Bitcoin. The conversation highlights how CrowdHealth allows direct payments to providers, reduces costs, and fosters better relationships. Schoonover also critiques restrictive regulations and promotes a shift towards decentralized healthcare solutions that prioritize accountability and mutual support.
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Denied Claim
- Andy Schoonover's daughter needed ear tubes, but his insurance denied the $8,000 bill.
- He learned he could have negotiated the price down significantly if he had paid directly.
Perverse Incentives
- The healthcare system has misaligned incentives where both insurers and providers benefit from rising costs.
- This creates a principal-agent problem, as insurers are incentivized to deny claims, not get the best prices.
Bitcoin's Impact
- Bitcoin's low-time-preference ethos encourages healthier lifestyles through personal responsibility and community.
- Bitcoiners often prioritize long-term health over short-term gratification, impacting their healthcare choices.