Billionaire entrepreneur Mark Cuban is sounding the alarm on skyrocketing corporate healthcare costs, declaring them a primary driver of layoffs and throwing his full weight behind bipartisan legislation to dismantle healthcare conglomerates like UnitedHealth Group Inc., CVS Health Corp., and Cigna Group.<\/p>\n
In a recent social media post, the founder of Cost Plus Drugs, Cuban, argued that out-of-control medical expenses\u2014not artificial intelligence (AI)<\/a>\u2014are forcing companies to slash jobs.<\/p>\n Cuban noted that employers are burdened with \u201c$30k per family, per year for premiums and care,\u201d calling the financial strain \u201cinsane.\u201d<\/p>\n \u201cMost of that goes to the massive, vertically integrated insurance companies that send weekly bills that no one reviews in details,\u201d Cuban wrote.<\/p>\n Don’t Miss:<\/p>\n He emphasized that healthcare is typically a company\u2019s second-largest expense behind payroll, making it \u201cfar easier to blame AI than it is to blame Healthcare costs\u201d when layoffs occur.<\/p>\n To combat these mounting costs, Cuban is urging the public to support the \u201cBreak Up Big Medicine Act,\u201d introduced by Senators Josh Hawley (R-Mo.) and Elizabeth Warren (D-Mass.).<\/p>\n The sweeping bill targets industry giants like UnitedHealth Group, CVS Health, and Cigna Group, aiming to prohibit common ownership between insurers, pharmacy benefit managers (PBMs), and medical providers.<\/p>\n \u201cBreak up the biggest insurance companies,\u201d Cuban demanded. \u201cThey don’t need thousands of subsidiaries. That’s how they game and abuse the system and increase costs for all of us.\u201d<\/p>\n I don’t think people realize how much healthcare costs are driving big companies to fire and not hire. <\/p>\n It costs them $30k per family, per year for premiums and care. Most of that goes to the massive, vertically integrated insurance companies that send weekly bills that no\u2026<\/p>\n \u2014 Mark Cuban (@mcuban) March 24, 2026<\/a><\/p>\n See Also:\u00a0You Saved for Retirement \u2014 But Do You Know What You’ll Keep After Taxes?<\/a><\/p>\n The proposed legislation mirrors the 1933 Glass-Steagall Act, seeking to eliminate the self-dealing that inflates consumer premiums.<\/p>\n Under the act, these massive healthcare entities would be required to divest conflicting subsidiaries within one year, with enforcement led by the Federal Trade Commission and the Department of Justice.<\/p>\n