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Marketplace All-in-One

The CEO of UnitedHealth Group agrees: “Our health care system is flawed.”

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 13 December 2024

⏱️ 8 minutes

🧾️ Download transcript

Summary

Following last week’s killing of the CEO of UnitedHealthcare, UnitedHealth Group’s insurance arm, the head of UnitedHealth Group has written an opinion piece acknowledging the flaws of — and need to fix — present American health care. We’ll unpack the details of the op-ed. We’ll also discuss the Federal Reserve’s thinking as its Board of Governors gathers next week and hear a history lesson that informs challenges for today’s auto industry.

Transcript

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0:00.0

The boss of the health insurance CEO shot and killed last week says the present health care system needs work.

0:09.5

I'm David Brancaccio, the head of the parent company of United Healthcare, whose colleague Brian Thompson was murdered outside a New York hotel last week,

0:17.7

has written an opinion piece acknowledging America's health care system is flawed and

0:21.8

needs to be fixed. The piece appears in the New York Times. Here's Marketplace's Nancy Marshall

0:26.6

Genser. In his op-ed, United Health Group CEO Andrew Woody portrayed Thompson as a brilliant,

0:33.7

kind man. Woody said the health system doesn't work as well as it should, adding that, quote,

0:39.2

we understand people's frustrations with it. Woody says United Health Care is willing to partner

0:44.4

with anyone to, quote, find ways to deliver high quality care and lower costs. He also said his

0:50.7

company needs to better explain what insurance covers and how decisions are made.

0:55.7

Today's editorial comes after a video Woody made for employees leaked.

1:00.2

In the video, Woody says United Health will guard against pressures for unsafe care or, quote,

1:05.9

for unnecessary care to be delivered in a way which makes the whole system too complex and

1:11.5

ultimately unsustainable. I'm Nancy Marshall Genser for Marketplace.

1:17.2

Retail and wholesale inflation data this week confirmed it once again, but core inflation,

1:21.8

setting aside volatile food and fuel costs, show inflation just sitting there, parked above

1:26.8

where experts want it to be since

1:28.5

springtime. One might conclude that our central bankers would then refrain from lowering interest

1:33.2

rates next week, but they probably still will make borrowing slightly cheaper. For more on Fed

1:38.3

logic, let's turn to Christopher Lowe, chief economist at FHN Financial in New York.

1:42.9

When they went into the silent period, you know, no comment for two weeks before the meeting.

1:48.6

The last word was, we still have confidence inflation is coming down.

1:54.7

It hasn't actually come down since May, but we're looking at it and thinking, okay, they're going to cut again

...

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