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Warren Buffett: Health Care Is A Tapeworm On The Economic System | CNBC



Warren Buffett, Berkshire Hathaway chairman and CEO, discusses how the health-care industry is a drain on the American economy.
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Warren Buffett: Health Care Is A Tapeworm On The Economic System | CNBC

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41 comments

  1. A company that makes money from other people’s pain and suffering, not a great business model for the patient I can see why there is no financial incentive for cures amongst the doctors (got to pay off those student loans for med school, therefore keep patients well enough, but still sick enough to keep coming back)

  2. He is so Idiot
    Does he talk about , how much Governs are spending paying interest to the banks ????
    that must be cut , not heathcare
    If they try push in heathcare system in Europe , they will declare war to people , and ( they will have it) like never dream , we people are ready for war with big banks
    Whenever this rich criminal people smell money , they
    immediately came to excuses to steal our money

  3. Why is it always health care and never defense spending?

  4. Someone needs to do something,

  5. Housing&healthcare are the two most expensive things because they are the two most regulated things.
    Deregulate to lower the barrier of entry for low cost competitors. Simple economics.

  6. I always laugh when I hear pundits state that most people want to keep their wonderful private health insurance coverage. Do they mean the ones that cost the average family of four $25K to $30K per year and cut you off if you ever use it? Or deny coverage on many treatments? Or the ones that cost $15K per year with a $10K deductible. Private health insurance companies are multi-billion dollar BUSINESSES with profit as the bottom line who provide absolutely NO healthcare related treatments. They are not medical care givers. Why do we allow for parasite businesses to profit off our citizens miseries and misfortune?. Folks, private health insurance businesses are NOT necessary to healthcare at all. Private insurance companies are to healthcare as a tapeworm is to the digestive system. Anyone who defends the benefits and necessity of private health insurance to our healthcare, name ONE medical diagnosis, treatment or procedure they provide. The answer is NONE.

  7. This man is a legend..Just the fact it's time for a man of his age to stop screwing with Becky quick😂

  8. Put a cap on company income.have insurance removed altogether.even with insurance they won't take care of you.there ain't no sense in it.you have to pay for it anyway why not go the whole 9 yards.

  9. How can buffett be so wrong to exclude any mention of personal responsibility? every individuals habits diet exercise responsibility for their own health!

  10. Buffett is genetically blessed to be maybe one in a hundred people who will enjoy relatively good health while at the same time eating an atrocious crap diet ! He is doing wrong by proudly bragging about his crap diet of cherry cokes mcdonald's hamburgers and other crapshoot that he shoves down his young handsome face

  11. Buffett seems to miss the obvious fact that the reason we spend 18% of GDP on healthcare and European countries spend 11% is because we have a giant layer of blubber called profit dragging down our system.

  12. Healthcare is over regulated. The market is smothered and completely dysfunctional.

  13. The successful Countries pay Dr’s according to how well they heal you ! Very Successful and gives them the inclination to do their jobs to their full potential. For the Doctors, ‘Money is the incentive’.

  14. I had a 500 a month insurace plan with a 1500 dollar deductible before numb nuts obama got into office . Factor in obama care . Now , just for me alone 2200.00 a month and a 12,000.00 dollar deductible with obama care ! WTF ppl ? I got 2 lazy left wing friends , my age , 55 . Still livin in mommys basement . Lied and said they cant work ! Bam unlimited health coverage , 75 bucks a month ! Aint a dam thing wrong with either one of em ! Just lazy democraps waitin for the next free hand out ! As long as thers no accountability this wont change ! Lie cheat , steal , repeat !
    MAGA 🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸

  15. Hey CNBC,

    Please get rid of Joe.

    Sincerely,
    Your Entire Viewer Base

  16. Maybe you should mention the fed and it’s money printing and failed policies that have made the rich so rich by destroying the middle class that is the real tape
    Worm. Over financialization. Banks creating money they can play with in the wall street casino while stealing the money from savers. If the bets go bad no fear the fed will bail you out print money and blow the assets back up so you will be rich. Then claim there is no inflation while housing education and healthcare goes through the roof. The only reason it is not in God’s and cloths is because all our factories are in China. So let’s fix that to.

  17. So profit from sickness is a good thing. Anyone else thinks this is a load of bovine scatology?

  18. Let’s just say this Rockefeller and his bank cartel runs the insurance trust and control everything in most of our lives USA the highest cost with the worst outcome . It’s not a complicated system it’s just run by a mob and USA govt knows all about it and paid to do nothing. Nothing will ever be done it will continue to reap American people’s wallets .

  19. Buffet's new frontman clown Atul Gawande, in his "health care" money making circus. joining forces with JP-Morgan's Jamie Dimon for total destruction of the health care system towards their pure financial benefit by getting people hooked on drugs and fool them with impure synthetic drugs. Most of which cannot be made profit of due to new revolution in peptides.

    Warren Buffet is a coward that takes profits behind the scenes of international poverty, slavery and wars, along with people like Bill Gates, his puppet and other international criminals such as Jamie Dimon of JP-Morgans whom financed the second world war.  

    Having stakes in poisonous product conglomerates such as MacDonalds, Mars, Microsoft, GE, Pfiezer and stealing peoples houses from under their feet through bubble "mortgages" and manipulating the stock market.
    Financing international wars by indirectly investing in weapons to gain energy and natural resources deals.
    Doing drug tests in third world countries pretending to fight with illnesses.
    Governments are actually run by the such cowardice obsessive compulsive people, whom actually belong to psychiatric hospitals.

  20. Basic health care is free to the average American!

  21. Leave it up to Bezoz and Buffet to paywall health care and let millions die, all without driving health care costs down. Then consider how dangerous this idea is when your dealing with an involuntary market. I give you…………………THE DEATH PANEL

  22. Please read Ellen Langer's work ….

  23. What happened between the 60s and today Warren? Could the skyrocketing of obesity, diabetes, hear disease etc be the cause for more healthcare spending? No? Its capitalism? Ok.

  24. Still wont have the leverage of a nationalized healthcare insurance. Meaning it won't reach the efficiency of us here in Europe per capita spending.

  25. A prescription of strength training mixed with active lifestyle would cut out 70% of healthcare needs. Diet would do another 15%

  26. Part of the problem is that healthcare is tied to your job. The direction that healthcare is going is that Insurance companies are going to pick your physician and where you go or you will pay 20-30% more in premiums. Insurance companies likely will advocate and push against big phrama to increase their profitability because premiums are determined by the previous health costs and targeting a large portion of that cost which a savvy insurance company can do would result in increased profits for that company.

    More importantly, health care costs are high because of the double jeopardy that healthcare brings. On top of a bill, a loss of work happens to take care of the individual. This is where government backed loans determined by how long someone is out of work and when they go back in to where we get people back on their feet. This can be determined by the hospital that the individual stays at in conjunction with the banks to where they don't run out of money for their bills and they can pay for the healthcare services as well. The biggest reason healthcare is so expensive is two-fold: Payment variance with negotiations (Most don't realize that pay is negotiable but insurance companies do) and revenue growth incentive.

    The patient wants healthcare to be simpler. Coinsurance, copay, premiums, etc are all over complicated to the average patient. This is why Medicare for All is desired by a lot of people. It sounds simple and easy. We already have a case study on Medicare for All and it is the VA. Veterans that I am friends with dislike the VA as it takes forever and unless it is life threatening they push you off. Couple this with how much Medicare fraud every major and minor hospital company has done and you get a sense that it is a bad idea. But the appeal is that it is simple and you know how much you are going to pay. Instead, you don't really know how much you pay until you get the bill. The problem too is that you cannot incentivize reckless behavior.by making it completely free and I think we need to separate healthcare with accidental healthcare where it is an accident and not entirely tied to an internal problem.

    Allocation of bets is more important in insurance than it is anything else and isolating the costs and simplifying to the lay man is going to help more than anything.

  27. I trust Jamie dimon but don't trust buffet or bezos. Buffet's interest lie only in economics and not rather than humanities. If you want to start a company for economic incentive that's one thing but don't put on a charade that thats not your only interest

  28. i really need a coke right now…..

  29. Either they are going to screw us good or are honestly doing a good thing. The good thing they could do is become the major supplier in medical supplies. They could price out middle men and smaller less efficient people. They would be the Walmart of medical supplies. Yeah the local places would go out of business but overall. The average consumer would pay less overall. They would also make money fyi. That's their insentive too.

  30. Warren, if you really want to change the healthcare system you have to do something different. What I recommend is that you invest and distribute regenerative and gene therapies that stops the greatest cost of healthcare which is people getting into chronic diseases. Treat the underlying causes of diseases and not just the symptoms. We are all thinking too small and totally focused on individual diseases. We need a preventative holistic approach.

  31. 1 year later, doesn't seem like a lot of movement on the effort.

  32. the real tapeworm is you warren, and all the billionaires that have congress and central banks in the pocket.

  33. This guy should be jailed for staeling people's money.

  34. CVS CAREMARK is one of the biggest reasons the healthcare is messed up, they are the biggest PBM in America. They negotiate low prices but take a lot of money in the middle. Ohio sued them and won NY will sue them and win and than every state will sue them and win because they take away so much money for their own benefit and act like they are trying to give better healthcare because it gives them a good name for company.

  35. Time and time again, private industries are stepping in and taking over tasks where the government is incompetent or inefficient. Go Team Buffett-Bezos!

  36. How to drive down the cost of medical care. Stop the pharmaceutical industry from being an oligopoly. Open up the American pharmaceutical industry to competition from abroad.

  37. I can't imagine living in a country where I could die just because I can't afford medical bills… I thought that's basic human rights. And the fact that so many people are opposed to free medicare absoultey appalls me.

  38. Their are 150,000,000 working people in America I say invest $10,00 and that would give us the people $1.5 billion to start our own drug company hiring our own scientists to develop our own drugs sold directly to you the customer owner and screw the drug companies and the pharmacies who get 50 to 60% kickbacks on top of their profit. Most normal businesses if their doing good make about 10%. So you can see they are really screwing us let's screw them back

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