It brings me no joy that my hunch that @petebuttigieg advised Blue Cross Blue Shield in the run-up to layoffs and rate hikes, was revealed to be right. Campaign spin aside, as a former insurance exec I know what that work really entails, and it is devastating. (1/7)
I see Pete describes his work there as just math. In a way, this is true. @BCBSM had a math problem: profits were down, and needed to go up. That’s when firms like BCBS and my old one bring in “whiz kids” like Pete to decide how high to raise rates and how many jobs to cut. (2/7)
In fairness, I can understand why Pete might try to minimize his role now, and make it seem like he was learning how to do spreadsheets. But trust me from experience, McKinsey is expensive, and hires Rhodes Scholars and Harvard grads like Pete for their brains and opinions. (3/7)
To really understand this work, and the climate in which it occurred, you might review this report from the Michigan AG in 2007. It’s called “Profits over People: The Drive to Privatize and Destroy the Social Mission of Blue Cross and Blue Shield” (4/7) michigan.gov/documents/ag/B…
Some context on the “it was only three months” talking point: Consulting is, by nature, temporary work. Often my insurance company would hire McKinsey for special projects to cut jobs and raise rates, that didn’t take very long. (5/7)
Pete says he didn’t work on stuff he “had a problem with.” Like Pete, I also worked for an insurer and turned a blind eye to the real world effects. Eventually I had a problem with a lot of it. It’s hard not to when your job includes denying care to Americans who need it most 6/7
The bottom line (that I know too well as a former health insurance exec) is this: The current system is built to deny people medical care and sock them with huge bills. Pete's health care plan protects this system. Now we have a clearer understanding of why. (7/7)
My latest on this topic:
