We are living in a time where multi-billion dollar industries are calling all the shots, while Americans are left vulnerable to every whim or decision made by a powerful few. CEOs are holding our government hostage and insurance companies are intentionally denying claims to increase profits. Following the horrific assassination of United Healthcare CEO Brian Thompson and the disturbing public reaction, we are met with a moment of national reckoning.
When met with rampant corporate greed and alleged attempts to drown out the needs of employees, how can we rightsize a system that seems to prioritize maximizing profits at the expense of workers, customers, our environment, and our democracy? By holding powerful corporations accountable. While the government can certainly play a role in regulating industries, we must put pressure on powerful actors like insurance companies to play by the rules and uphold their end of the deal.
It’s not enough to place responsibility solely on the government. If we take that approach, you will never see a penny in compensation from insurers — whether it be medical, property, auto, or personal liability. We have seen an industry-wide practice of denying claims and making those paying for insurance jump through hoops to get the coverage they deserve. Insurance giants like Chubb have established a pattern of ignoring state laws, undermining survivors of child sex abuse, and standing in the way of justice, all in an effort to protect their bottom line. Some have argued the Affordable Care Act is to blame for medical insurance industry failings, but if that was the case, then we would only see the practice of denying claims to maximize profits in the medical insurance world. Yet insurance agencies across sectors, from medical insurance to property insurance to personal liability insurance, have followed the same playbook. Deny a claim and then try to run out the clock.
Medical insurance companies deny coverage for medically necessary procedures and hope the patient either dies or gets discouraged. Personal liability insurance agencies operate in an identical fashion. Five years ago, New York passed landmark legislation called the Child Victims Act, which allowed survivors of childhood sexual abuse to take their abusers to court for crimes that took place before they turned 18 — waiving the statute of limitations for a limited time. But half a decade later, less than 7% of claims have been paid out, including my own. Like with medical insurance, agencies are dragging their heels to protect their profits, while survivors die waiting for justice.
This has nothing to do with the Affordable Care Act or elected officials. This is a powerful industry that refuses to follow the law of the land and play by the rules. We cannot let insurance agencies off the hook and blame politicians for this industry wide moral failing. We need to hold the insurance agency responsible for its own actions and create a system that encourages better behavior. If we allow insurers and institutions to avoid responsibility by placing blame on elected leaders, it undermines the progress we’ve made and weakens the incentive for reform.
This is not about punishment; it’s about justice. We need to create a system that ensures powerful actors cannot continue to take advantage of the American people. Patients deserve coverage for medically necessary procedures. Survivors of abuse deserve real compensation. Insurers and institutions must be held accountable for their actions instead of shifting blame to others. Only then can we begin to mend this exploitative system and ensure those who prey on the vulnerable face real consequences.
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