According to Mark Cuban, plans offered by existing large insurance carriers to retailers and associations would be low quality because incumbents would expand information asymmetry and continue abusive practices, affecting the economics of association health plans and retailer-distributed coverage models, source: Mark Cuban on X, Dec 3, 2025. He states the Affordable Care Act failed because policymakers let insurers and hospital networks become behemoths that underpay or deny payments to providers and leverage PBMs to harm patients, source: Mark Cuban on X, Dec 3, 2025. He argues PBMs will not become honest simply by selling through Costco, Amazon, or Home Depot and warns retailer-based health plan distribution could worsen outcomes, source: Mark Cuban on X, Dec 3, 2025. He calls for the DOJ and FTC to consider breaking up large carriers and hospital networks to enable transparent competition, while supporting ending state line restrictions and allowing physician-owned hospitals, source: Mark Cuban on X, Dec 3, 2025. For traders, his critique directly targets major insurers and PBM operators such as UnitedHealth Group UNH, Elevance Health ELV, Humana HUM, CVS Health CVS, and Cigna CI, as well as retailer healthcare initiatives at Amazon AMZN, Costco COST, and Home Depot HD, source: Mark Cuban on X, Dec 3, 2025. He makes no mention of cryptocurrencies or digital assets in the post, source: Mark Cuban on X, Dec 3, 2025.

According to @mcuban, the U.S. healthcare market is not efficient because a few insurance carriers dominate and define industry economics, preventing true competition for consumer healthcare dollars. Source: Mark Cuban (@mcuban) on X, Nov 29, 2025. He states that achieving an efficient, transparent market will require participation from the DOJ, the FTC, and legislators, not laissez-faire deregulation. Source: Mark Cuban (@mcuban) on X, Nov 29, 2025. Cuban warns that removing government intervention would allow large carriers to expand to multi-trillion-dollar revenues, acquire innovative firms, more providers, and PBMs, and drive care costs even higher. Source: Mark Cuban (@mcuban) on X, Nov 29, 2025. He adds that with transparency and efficiency, states could pursue a Canada-like path to universal coverage by analyzing statewide claims and choosing to cover costs if voters agree, starting state by state. Source: Mark Cuban (@mcuban) on X, Nov 29, 2025. Trading implications: Cuban’s comments highlight material policy and antitrust catalysts for managed care and PBM equities; watch DOJ/FTC actions and state-level initiatives as potential drivers of valuation and M&A risk. Source: Mark Cuban (@mcuban) on X, Nov 29, 2025. Crypto market note: the post does not reference cryptocurrencies or blockchain, and no direct crypto impact is cited. Source: Mark Cuban (@mcuban) on X, Nov 29, 2025.

According to Mark Cuban, U.S. taxpayers rarely pay doctors directly, with funding flowing to states via Medicaid, to hospitals and providers via traditional Medicare, to insurance carriers via Medicare Advantage and ACA plans, and indirectly through tax benefits for individuals and employers (source: Mark Cuban on X, Nov 29, 2025). He says the system overpays because carriers are incentivized to scale, contract at inflated prices, invent fees, and delay or deny care, with PBMs contributing to the problem (source: Mark Cuban on X, Nov 29, 2025). He proposes breaking up big carriers by vertical and requiring intercompany transfers at Medicare rates or best price until structural changes are made (source: Mark Cuban on X, Nov 29, 2025). He calls to remove formularies from PBMs and to count extra cash drug purchases toward patient deductibles (source: Mark Cuban on X, Nov 29, 2025). He urges nonprofit hospitals and providers to publish every general ledger entry and to stop 340B abuse (source: Mark Cuban on X, Nov 29, 2025). He adds that caregivers benefit the least financially and argues doctors should be able to operate independent practices and receive the same Medicare rates as hospitals for the same work (source: Mark Cuban on X, Nov 29, 2025). He challenges employers to disclose their insurance and PBM choices and to walk away from the biggest carriers and their PBMs (source: Mark Cuban on X, Nov 29, 2025).

According to @mcuban, scale in healthcare enables regulatory capture as large firms can buy enough companies and generate sufficient profits to influence the rules. Source: @mcuban on X, Nov 28, 2025. He adds that markets need efficiency and asserts healthcare markets have zero efficiency. Source: @mcuban on X, Nov 28, 2025. For traders, his comments flag headline and policy-risk sensitivity for large, consolidation-driven healthcare equities (insurers, PBMs, hospital roll-ups), where perceived regulatory capture could act as a negative sentiment catalyst in valuation screens and positioning. Source: @mcuban on X, Nov 28, 2025. Active strategies may focus on relative strength between mega-cap acquirers and smaller providers during antitrust, pricing, or M&A newsflow that aligns with this critique. Source: @mcuban on X, Nov 28, 2025.

According to @mcuban, the key problem is companies that underpay providers and make care unaffordable by controlling healthcare markets, and he urges focusing pressure on the DOJ to act rather than debating whether healthcare is a right, source: Mark Cuban on X, Nov 28, 2025. For traders, his enforcement-focused message highlights regulatory developments as a potential catalyst; monitor DOJ communications and company disclosures tied to market concentration and pricing practices across U.S. managed care, PBMs, hospital operators, and drug distributors to manage headline risk, source: Mark Cuban on X, Nov 28, 2025. No cryptocurrencies are mentioned in the statement, and no direct crypto market impact is indicated, source: Mark Cuban on X, Nov 28, 2025.

According to Mark Cuban, large PBMs and major drug wholesalers price many fees, rebates, and services as a percentage of a drug’s retail price, so higher retail prices mean higher revenues for intermediaries, source: Mark Cuban on X Nov 26, 2025. For trading context, publicly listed operators of PBMs include CVS Caremark under CVS, Express Scripts under Cigna CI, Optum Rx under UnitedHealth UNH, CarelonRx under Elevance Health ELV, and Humana Pharmacy Solutions under Humana HUM, while the dominant US wholesalers are McKesson MCK, Cardinal Health CAH, and Cencora COR, source: company filings and investor relations disclosures as of 2024. The US Federal Trade Commission is conducting a 6b study into PBM practices and released interim findings in 2024 highlighting concerns around rebates, fees, spread pricing, and market concentration, a regulatory backdrop relevant to assessing pricing model exposure in these tickers, source: US Federal Trade Commission public statements in 2022 and the interim report in 2024.

According to Mark Cuban on Twitter, pharmacy benefit managers (PBMs) manipulate drug prices by controlling formularies and maximizing rebate revenue, restricting Big Pharma from setting their own pricing. Cuban states that three major PBMs negotiate the majority of drug prices, impacting the entire pharmaceutical supply chain (source: Mark Cuban Twitter, June 19, 2025). For traders, this concentration of PBM power creates pricing pressure on pharma stocks and may trigger increased regulatory scrutiny, which could affect pharma sector equities and related healthcare ETFs. Crypto investors should monitor the potential for regulatory spillover, as similar market structure debates could influence tokenized healthcare projects and DeFi protocols focusing on medical data or pharmaceutical payments.