Zach Veigulis
speaker
463 appearances
1 recordings
1 series
first heard Jul 2026
last heard 29 Jul
Zach Veigulis’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
Their legal fiduciary responsibility, legal obligation to maximize shareholder value.
So what does that mean?
It means maximizing profits.
So the incentives have completely shifted from, hey, accessible health care for the average consumer, predictable revenue for health care systems into there's a third party now that is dictating your care.
And so what happens is there's about five billion medical claims a year in the United States.
About 20 percent, around a billion of those are denied and less than a million are appealed.
So in summary, the system is working exactly as it's designed.
It's just really not patient friendly.
That's exactly right.
So in the 1970s, there started – I mean basically what happens after the Great Depression, the tax code changed to where they were incentivizing employers to essentially sponsor health insurance for people.
Exactly.
So in the 1970s, the government got involved and they said, hey, we're going to pass an act called ERISA, right?
And so what ERISA does is that that regulates both the retirement aspect of your benefits as well as your essential health insurance benefits.
And what we're going to do is we're going to try to protect patients or employees, if you will.
And we're also going to try to protect employers.
And so ERISA was passed in 1974 as this kind of continued to spiral.
And then really since then –
There was clearly a business model to adopt and that's ultimately what's happened.
These insurance companies have popped up and gotten massive and that's where we're at today.
That's correct.
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