The founder of Cost Plus Drugs said increasing employer healthcare expenses may lead to more layoffs and reduced hiring in the years ahead. American billionaire and Shark Tank judge Mark Cuban has warned that rising healthcare costs, rather than artificial intelligence could pose a bigger threat to jobs in the United States. In a post shared on social media platform X (forlmekry known as Twitter) Cuban wrote, “I hope people realize that for the foreseeable future, the cost of healthcare benefits will get more people fired, or not hired, than AI. The comments come at a time when fears around AI-driven job losses continue to dominate workplace discussions. However, Cuban argued that soaring healthcare expenses are placing a greater burden on employers, forcing businesses to rethink hiring plans and workforce costs.
The most recent figures from the Centers for Medicare & Medicaid Services show $5.3 trillion in spending in 2024, about 18% of GDP. That is more than double the $2.5 trillion spent in 2000. On a per-person basis, the U.S. spent $14,775 in 2024, nearly double the $7,860 spent in other high-income countries. The three largest PBMs manage about 80% of prescription claims in the US, according to the nonprofit KFF.
The United States spends more on health care than any other country, and the total has climbed sharply, according to a report by Fortune. He says the company can charge less by bypassing pharmacy benefit managers. For the past four years, he has offered consumers a lower-cost route to prescription drugs. Cuban has also drawn attention to the growing health care costs that companies face.