Mark Cuban says consumers have more control over insurance companies than they realize

Mark Cuban told Brainstorm Tech that people have more control over insurance companies than they realize.

Transcript

00:00National news around the UnitedHealthcare CEO.

00:04Yeah.

00:04With all that, to pick that apart a little bit,

00:07it touched a nerve in this country.

00:09How should the health industry interpret that moment moving forward?

00:14Because you're trying to disrupt one part of it.

00:16Yeah, it's brutal.

00:17The insurance companies, rightfully so, are getting a lot of help.

00:20Because 18% of the claims that they get, they deny,

00:24and 99% of those that actually are challenged get approved.

00:29Yeah.

00:30Which means it's just bullshit.

00:31We as consumers, and we as companies,

00:34have more control over the insurance companies than we realize.

00:38Because it's been so opaque up to this point,

00:41everybody realized the insurance companies have all the power.

00:44They don't.

00:45I really think that Congress is going to step up

00:49and do something about denials and pre-authorizations and all that.

00:54It's just too political.