Payer CEOs are reckoning with the public vitriol directed at the industry in the wake of the killing of UnitedHealthcare CEO Brian Thompson.
Mark Bertolini, CEO of Oscar Health, told Yahoo Finance the U.S. healthcare system has been "broken for some time."
"While this act in itself is unconscionable, the behavior of the American public and the reaction to it is understandable, given how frustrated people are with the state of our healthcare system in the United States," Mr. Bertolini said in a Dec. 9 interview that was published before the suspect, Luigi Mangione, was identified.
Sachin Jain, MD, CEO of SCAN Group, a nonprofit insurer, told the Wall Street Journal Dec. 10 that a "broader reckoning" with the insurance industry is taking place after the attack.
"Most people who work in health plans believe they are supporting action for patients, but it's clearer than ever that the American public doesn't necessarily see it that way," Dr. Jain said.
Mr. Thompson was killed outside a Manhattan hotel Dec. 4, in what police said was a targeted attack. Police arrested the alleged murderer, 26-year-old Mangione, in Altoona, Pa., Dec. 9. He was charged with second-degree murder.
Mr. Mangione was found with a manifesto condemning the healthcare industry for putting profits over patient care when he was arrested, the NYPD said.
In the days following the attack on Mr. Thompson, individuals took to social media to share their experiences with delayed and denied care by UnitedHealthcare and other insurers, The New York Times reported. Some reacted with what the Times described as "morbid glee" over Mr. Thompson's death.
One federal lawmaker described the situation as unjustified but not surprising, while another said the anger should be directed toward Congress.
In an op-ed published in the New York Times Dec. 13, UnitedHealth Group CEO Andrew Witty expressed sympathy with the public's frustrations over the healthcare system.
"We know the health system does not work as well as it should, and we understand people's frustrations with it," Mr. Witty wrote. "No one would design a system like the one we have. And no one did. It's a patchwork built over decades. Our mission is to help make it work better."
Insurers have ramped up security around their executives in the aftermath of the shooting. Many have also removed information about their executives from their websites.
Mr. Bertolini, who was CEO of Aetna from 2010 to 2018, said New York-based Oscar Health has always had security at its building and is confident its employees are safe.
The attack on Mr. Thompson does raise concerns for executives about moving around in public, especially for CEOs, Mr. Bertolini said.
"We take all sorts of precautions. I've been used to it for a long time in my career," he said.
Vicky Gregg, the former CEO of BlueCross BlueShield of Tennessee, told the WSJ she received repeated death threats during her time as chief executive.
The U.S. healthcare system is no longer working for most people, Mr. Bertolini said.
"It largely starts with making sure our healthcare system meets the needs of individuals, not the needs of groups," he said. "Right now, our system is largely built around meeting the needs of groups."
Mr. Thompson, 50, was named CEO of UnitedHealthcare in April 2021. He first joined Minnetonka, Minn.-based UnitedHealth Group in 2004 and held numerous leadership positions across the company. Before UnitedHealth, he held management roles at PwC in Minnesota. He graduated with a bachelors of business administration and accounting from the University of Iowa in 1997.