I think it’s absolutely insane to have employees pay thousands of dollars in premiums if Optum/UHG will renegotiate our health insurance policies at their whim. Last year I was able to get my diabetes medication but this year it isn’t covered? Evil company.
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Optum/UHG is self insured so are not actually buying a health insurance product. It is just convenient to use the infrastructure of United / Surest to process claims and use the existing provider / facility network. Optum/UHG is doing the underwriting assuming all the risk and dealing direct with all the reinsurance to cover risk. Why on earth would they shoot money to a competitor to insure their employees. Its all accounting trickery. Such an evil company but yet you stay and cash the checks and no problem spending the blood money.
Optum should have to accept bids from other insurance companies for their employee health insurance, and then select the best one instead of just using UHC.
That would certainly provide some dis-incentive to constantly raising rates and cheapening coverage.