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Private Equity Wreckers Come For Your Health Insurance (www.levernews.com)

submitted 1 year ago by [email protected] to c/[email protected]

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Summary:

The health insurer Friday Health Plans, supported by private equity, was ordered by Colorado state regulators to cease operations, leaving 30,000 policyholders without health insurance. This follows the path of Bright Health, another private equity-backed insurer that had to terminate its business, affecting hundreds of thousands of policyholders. These events highlight the risks of private equity entering an already unstable health insurance market, with over a million people losing their health insurance due to the failures of these two companies. The private equity business model, centered on profit extraction rather than provision of consistent, affordable care, often results in worse patient outcomes. The collapses expose regulatory gaps, where these insurers were approved to operate without adequate capital and oversight.

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[–] [email protected] 9 points 1 year ago

Then you have underhanded stuff with for-profit health insurance companies buying up clinics. United Healthcare using its Optum arm to own clinics, for example. They own your insurance and they own your doctor - how screwed are you?!?