Billionaire businessman Mark Cuban pitched his own plan to fix
the Affordable Care Act on Wednesday, amid the House Republican
effort to unravel the law.
He detailed the idea on his blog, Blog Maverick. It amounted to single
payer coverage for chronic physical and mental illnesses and
life-threatening injuries, and standard insurance for all
The owner of the Dallas Mavericks and star of ABC’s “Shark Tank”
encouraged readers to “shoot holes” in the plan.
“Whether it’s Medicaid or a new program, every single person in
this country should be covered 100% for chronic physical or
mental illness and for any life-threatening injury.
“The premiums that we are paying to insurance companies as
individuals or as company coverage for these significant risks
would go from the insurance companies to the IRS. Only the cost
of covering the what’s left would continue being paid to the
“It would not be hard to do the math. Every insurance company
does this analysis already. The government does this analysis
already. We all would end up paying more in taxes, but less
in insurance and healthcare costs over time.
“There would be no mandates. There would be no individual
penalties. No tax credits. No subsidies. No offsets or
deductions for buying higher end insurance. This will be single
payer (yes I know it’s a dirty phrase in this country) for
chronic physical or mental illness and for any life threatening
“Everything not covered by the above can be covered by insurance
sold on the free market, managed by the states, sold across state
lines, without government interference.”
House Republicans released their proposal to replace the
Affordable Care Act, otherwise known as Obamacare, earlier
this week. But while the proposal has been endorsed by President
Donald Trump and his administration, many in the more
conservative wing of the GOP have slammed the proposal, such as
Sen. Rand Paul of Kentucky and Rep. Justin Amash of Michigan, who
believe it amounts to “Obamacare Lite” or “Obamacare 2.0.”
Cuban has flirted with the idea of a presidential bid in the
past, recently telling Business Insider “we will see” when asked
if he was considering a run at the White House. A recent poll showed that, if he was the
Democratic nominee running against Trump (Cuban is not currently
registered with a political party), the billionaire businessman
would be in a neck-and-neck race with the sitting president.
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