Mark Cuban thinks that the Affordable Care Act (ACA), better known as Obamacare, has its issues but nothing insurmountable
In an interview with CNBC, the billionaire investor and media personality said that the health care law has flaws but is ultimately a positive development.
“In my view, Obamacare is the biggest start-up of all time,” said Cuban during an interview with CNBC’s Squawk Alley.
Cuban said that many start-ups go through growing pains and need to be re-tooled in order to be successful. Thus, given the size of the ACA, it is unsurprising that there are growing pains.
Additionally, many people do not understand what is actually happening with the law according to Cuban. He said politicians and pundits are resorting to reductive “headline porn” that does not convey the whole truth.
Cuban admitted that in some states the premium increases are concerning, but there are solutions that can help to mitigate the costs.
Cuban also criticised Republican presidential nominee Donald Trump, who has recently been attacking what he calls Obamacare’s flaws over the past week on the campaign trail. Cuban said that Trump “doesn’t understand Obamacare” and he needs to learn about the law before criticising it.
The back-and-forth comes at an interesting time as Obamacare’s public exchanges launch their fourth open enrollment period on Tuesday in which the Department of Health and Human Services projected 13.8 million will sign up for health insurance through the marketplaces. The average premium is projected to increase by 25% on these exchanges, according to the HHS, which has drawn the ire of Republicans including Trump.