The Cost of Care: How U.S. Healthcare System Fails the Uninsured
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The United States, often lauded as a global leader in innovation and opportunity, harbors a healthcare paradox that leaves millions in its wake. For 27.5 million uninsured Americans, accessing medical care often means choosing between getting treated and facing financial disaster. This issue highlights serious problems within the system, worsened by the connection between politics and the profits of private insurance companies.
The Heavy Price of Being Uninsured
Healthcare costs in the U.S. are among the highest in the world, often forcing uninsured or underinsured individuals to forgo necessary treatments. Since insurance companies largely control healthcare pricing, those without coverage pay the most, creating a growing gap in access to care.
Here’s the breakdown of how Americans are insured:
Private Insurance covers 66% of Americans, with employer-sponsored plans benefiting 155 million.
Public Insurance supports 28%, primarily through Medicare and Medicaid.
Meanwhile, 8.6% remain uninsured, equating to 27.5 million individuals unable to access basic care.
Source: Statista
The consequences ripple across society, burdening emergency rooms and increasing overall healthcare costs.
Profits Over Patients: The Corporate Takeover
While millions struggle, the financial performance of major health companies paints a starkly contrasting picture.
UnitedHealth Group (UNH:US) saw a 21% stock surge over the last six months, reporting $6 billion in Q3 earnings, even amid a $475 million hit from a cyberattack.
Cigna Group (CI:US) experienced an 8.5% YTD increase, fueled by robust contributions from Evernorth Health Services, despite reporting a $1 billion investment loss.
Warren Buffett’s conglomerate Berkshire Hathaway (BRK.B:US) which holds significant ownerships in various health companies, has seen its stock soar by 33% this year. It is also amassing a record $325.2 billion in cash, underscoring its confidence in the insurance sector.
CVS Health (CVS:US) saw an 11.8% increase over six months, bolstered by leadership changes and surging Medicare and prescription sales.
These financial triumphs underscore a system where profit is prioritized over accessibility, leaving uninsured individuals to bear the consequences.
Political Conflicts of Interest
The healthcare debate is further complicated by congressional investments in these profit-driven companies. Representative Ro Khanna, for instance, has executed multiple trades in Cigna, CVS Health, and Berkshire Hathaway in 2024 through his third-party investment trusts, each valued up to $15,000. Similarly, Representative Marjorie Taylor Greene has invested in Berkshire Hathaway, raising ethical questions about legislative objectivity.
Rep. Kevin Hern, Rep. Michael McCaul, and Rep. Jared Moskowitz also increased their stakes in UnitedHealth Group within the first half of 2024, and as per their disclosures, they are still holding their respective stakes. Rep. Moskowitz additionally bought shares in Berkshire Hathaway during the same period.
Such investments often clash with public sentiment, which leans toward affordable, government-led healthcare solutions like Medicare expansion. Critics argue these financial ties hinder meaningful reform, as legislators benefiting from the current system are less incentivized to enact change.
The Call for Change
Advocates for healthcare reform argue for expanding Medicare and Medicaid, regulating insurance prices, and making healthcare more affordable. There’s also a growing demand for transparency in political stock trades, so voters can hold lawmakers accountable.
The struggles of uninsured Americans go beyond policy, they reflect a national failure to ensure equal access to healthcare. Without meaningful changes, millions will continue to face impossible choices between their health and financial survival.
Conclusion
The U.S. healthcare system stands at a crossroads, with the uninsured serving as a glaring reminder of its failures. Reform isn’t just necessary; it’s urgent. Bridging the gap between profit and accessibility is not only a policy challenge but a test of America’s commitment to its people. For the millions left behind, the cost of inaction is far too high.
