UnitedHealth CEO: ‘Medicare For All’ Would ‘Destabilize The Nation’s Health System’

(CNBC)

UnitedHealth Group CEO David Wichmann warned investors on Tuesday that “Medicare for All” proposals pushed by Democratic lawmakers and presidential candidates would “destabilize the nation’s health system.”

A number of Democratic proposals call for eliminating private health insurance and replacing it with a universal Medicare plan, claiming it would help reduce administrative inefficiencies in the health-care system. Most recently, Sen. Bernie Sanders of Vermont unveiled a bill that would create a government-run system to provide health insurance for all Americans. Freshman Rep. Alexandria Ocasio-Cortez is pushing a similar plan.

Wichmann, who rarely discusses politics, told investors on a post-earnings conference call Tuesday such measures would “surely jeopardize the relationship people have with their doctors, destabilize the nation’s health system and limit the ability of clinicians to practice medicine at their best.” “And the inherent cost burden would surely have a severe impact on the economy and jobs — all without fundamentally increasing access to care,” he added. Read more