Connect with us

Published

5 months ago

on

President-elect Donald Trumps choice to run the sprawling government agency that administers Medicare, Medicaid, and the Affordable Care Act marketplace celebrity doctor Mehmet Oz recently held broad investments in health care, tech, and food companies that would pose significant conflicts of interest. Use Our Content

It can be republished for free.

Ozs holdings, some shared with family, included a stake in UnitedHealth Group worth as much as $600,000, as well as shares of pharmaceutical firms and tech companies with business in the health care sector, such as Amazon. Collectively, Ozs investments total tens of millions of dollars, according to financial disclosures he filed during his failed 2022 run for a Pennsylvania U.S. Senate seat.

Trump said Tuesday he would nominate Oz as administrator of the Centers for Medicare & Medicaid Services. The agencys scope is huge: CMS oversees coverage for more than 160 million Americans, nearly half the population. Medicare alone accounts for approximately $1 trillion in annual spending, with over 67 million enrollees.

UnitedHealth Group is one of the largest health care companies in the nation and arguably the most important business partner of CMS, through which it is the leading provider of commercial health plans available to Medicare beneficiaries.

UnitedHealth also offers managed-care plans under Medicaid, the joint state-federal program for low-income people, and sells plans on government-run marketplaces set up via the Affordable Care Act. Oz also had smaller stakes in CVS Health, which now includes the insurer Aetna, and in the insurer Cigna. Email Sign-Up

Subscribe to KFF Health News' free Weekly Edition. Your Email Address Sign Up

It’s not clear if Oz, a heart surgeon by training, still holds investments in health care companies, or if he would divest his shares or otherwise seek to mitigate conflicts of interest should he be confirmed by the Senate. Reached by phone on Wednesday, he said he was in a Zoom meeting and declined to comment. An assistant did not reply to an email message with detailed questions.

Its obvious that over the years hes cultivated an interest in the pharmaceutical industry and the insurance industry, said Peter Lurie, president of the Center for Science in the Public Interest, a watchdog group. That raises a question of whether he can be trusted to act on behalf of the American people. (The publisher of KFF Health News, David Rousseau, is on the CSPI board.)

Oz used his TikTok page on multiple occasions in November to praise Trump and Robert F. Kennedy Jr., including their efforts to take on the illness-industrial complex, and he slammed so-called experts like the big medical societies for dishing out what he called bad nutritional advice. Ozs positions on health policy have been chameleonic; in 2010, he cut an ad urging Californians to sign up for insurance under President Barack Obamas Affordable Care Act, telling viewers they had a historic opportunity.

Ozs 2022 financial disclosures show that the television star invested a substantial part of his wealth in health care and food firms. Were he confirmed to run CMS, his job would involve interacting with giants of the industry that have contributed to his wealth.

Given the breadth of his investments, it would be difficult for Oz to recuse himself from matters affecting his assets, if he still holds them. He could spend his time in a rocking chair if that happened, Lurie said.

In the past, nominees for government positions with similar potential conflicts of interest have chosen to sell the assets or otherwise divest themselves. For instance, Treasury Secretary Janet Yellen and Attorney General Merrick Garland agreed to divest their holdings in relevant, publicly traded companies when they joined the Biden administration.

Trump, however, declined in his first term to relinquish control of his own companies and other assets while in office, and he isnt expected to do so in his second term. He has not publicly indicated concern about his subordinates financial holdings.

CMS main job is to administer Medicare. About half of new enrollees now choose Medicare Advantage, in which commercial insurers provide their health coverage, instead of the traditional, government-run program, according to an analysis from KFF, a health information nonprofit that includes KFF Health News.

Proponents of Medicare Advantage say the private plans offer more compelling services than the government and better manage the costs of care. Critics note that Medicare Advantage plans have a long history of costing taxpayers more than the traditional program.

UnitedHealth, CVS, and Cigna are all substantial players in the Medicare Advantage market. Its not always a good relationship with the government. The Department of Justice filed a 2017 complaint against UnitedHealth alleging the company used false information to inflate charges to the government. The case is ongoing.

Oz is an enthusiastic proponent of Medicare Advantage. In 2020, he proposed offering Medicare Advantage to all; during his Senate run, he offered a more general pledge to expand those plans. After Trump announced Ozs nomination for CMS, Jeffrey Singer, a senior fellow at the libertarian-leaning Cato Institute, said he was uncertain about Dr. Ozs familiarity with health care financing and economics.

Singer said Ozs Medicare Advantage proposal could require large new taxes perhaps a 20% payroll tax to implement.

Oz has gotten a mixed reception from elsewhere in Washington. Pennsylvania Sen. John Fetterman, the Democrat who defeated Oz in 2022, signaled hed potentially support his appointment to CMS. If Dr. Oz is about protecting and preserving Medicare and Medicaid, Im voting for the dude, he said on the social platform X.

Ozs investments in companies doing business with the federal government dont end with big insurers. He and his family also hold hospital stocks, according to his 2022 disclosure, as well as a stake in Amazon worth as much as nearly $2.4 million. (Candidates for federal office are required to disclose a broad range of values for their holdings, not a specific figure.)

Amazon operates an internet pharmacy, and the company announced in June that its subscription service is available to Medicare enrollees. It also owns a primary care service, One Medical, that accepts Medicare and select Medicare Advantage plans.

Oz was also directly invested in several large pharmaceutical companies and, through investments in venture capital funds, indirectly invested in other biotech and vaccine firms. Big Pharma has been a frequent target of criticism and sometimes conspiracy theories from Trump and his allies. Kennedy, whom Trump has said hell nominate to be Health and Human Services secretary, is a longtime anti-vaccine activist.

During the Biden administration, Congress gave Medicare authority to negotiate with drug companies over their prices. CMS initially selected 10 drugs. Those drugs collectively accounted for $50.5 billion in spending between June 1, 2022, and May 31, 2023, under Medicares Part D prescription drug benefit.

At least four of those 10 medications are manufactured by companies in which Oz held stock, worth as much as about $50,000.

Oz may gain or lose financially from other Trump administration proposals.

For example, as of 2022, Oz held investments worth as much as $6 million in fertility treatment providers. To counter fears that politicians who oppose abortion would ban in vitro fertilization, Trump floated during his campaign making in vitro fertilization treatment free. Its unclear whether the government would pay for the services.

In his TikTok videos from earlier in November, Oz echoed attacks on the food industry by Kennedy and other figures in his Make America Healthy Again movement. They blame processed foods and underregulation of the industry for the poor health of many Americans, concerns shared by many Democrats and more mainstream experts.

But in 2022, Oz owned stakes worthas much as $80,000 in Dominos Pizza, Pepsi, and US Foods, as well as more substantial investments in other parts of the food chain, including cattle; Oz reported investments worth as much as $5.5 million in a farm and livestock, as well as a stake in a dairy-free milk startup. He was also indirectly invested in the restaurant chain Epic Burger.

One of his largest investments was in the Pennsylvania-based convenience store chain Wawa, which sells fast food and all manner of ultra-processed snacks. Oz and his wife reported a stake in the company, beloved by many Pennsylvanians, worth as much as $30 million.

Darius Tahir: DariusT@kff.org, @dariustahir Related Topics Elections Health Industry Insurance Medicare CMS Medicare Advantage Pennsylvania Trump Administration Contact Us Submit a Story Tip

Related Topics:
Continue Reading

Environment

Anker SOLIX EverFrost 2 coolers + bundles $200 off, G-Force’s new DE-S cargo e-bike $1,399, EcoFlow DELTA 2 bundle flash sale, more

Published

3 hours ago

on

May 5, 2025

By

Anker SOLIX EverFrost 2 coolers + bundles 0 off, G-Force's new DE-S cargo e-bike ,399, EcoFlow DELTA 2 bundle flash sale, more

We’re starting off this week’s Green Deals with a spotlight on Anker’s SOLIX EverFrost 2 Electric Cooler discounts that are running as part of the brand’s ongoing Mother’s Day Sale, which start from $700. Next, we have G-Force’s extended e-bike savings, including its newest DE-S Premium All-Terrain Fat Tire Wide Cargo e-bike that is down at $1,399. Lastly, there’s EcoFlow’s latest flash sale that is offering a DELTA 2 bundle with an expansion battery and bag for $849, as well as an additional solar panel bundle offer. Plus, all the other hangover Green Deals from last week are in the links at the bottom of the page, rounded together in our Electrified Weekly coverage, including the free extra battery preorder deal on Rad Power’s new RadRunner Max Cargo Utility e-bike and Lectric’s teasing of its upcoming XP 4 e-bike that will be revealed tomorrow, May 6, 2025.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Save $200 on Anker’s SOLIX EverFrost 2 40L and 58L electric coolers and bundles starting from $700

Looking back in on Anker’s SOLIX Mother’s Day Sale which is continuing through May 11, we wanted to shine a spotlight on the deals for brand’s latest release, the EverFrost 2 Portable Electric Coolers. You’ll find the 40L model discounted to $699.99 shipped here (matching at Amazon), while its 58L counterpart is down at $899.99 shipped (also matching at Amazon), as well as alternate bundles that give you a secondary removable battery below. These two models would normally run you $900 and $1,100 at full price, with these prices only having been beaten out by the February pre-sale launch discounts to $600 and $800 from Anker, while the 58L model saw a drop to $809 from Wellbots. We’ve been seeing these same discounts repeat in recent sales, bringing you another chance at $200 off the going rates for the best post-launch prices we have tracked. Head below for more information on these coolers and their bundle options, or you can get our hands-on take from our review here.

Currently only sporting the two mentioned model sizes (though there is a smaller 23L cooler slated to hit the market later in the year), Anker’s SOLIX EverFrost 2 Electric Coolers see to it that ice runs will no longer be needed during gatherings and other events. There’s currently the 40L model that provides a single compartment with dual functionality and the 58L model that has two compartments – each with dual functionality – that can cover simultaneous cooling and freezing. The big change from its predecessors is the trading of a direct cooling system for the new air-cooled system, providing compartment cooldowns at much faster speeds.

Advertisement – scroll for more content

Both the 40L and 58L models have been given dual battery ports (with the second battery either being sold separately or within bundles that you can find below), which provide up to 104 hours of continuous runtime when set to Eco Mode, according to Anker. Each of these batteries come with a 288Wh capacity and can also be repurposed as power banks when not running the coolers, giving you a little added versatility to keep personal devices juiced up with either the 60W USB-C or 12W USB-A ports. There are four ways to recharge the batteries – with a max 100W solar input, plugging the cooler into a wall outlet or 12V car port, or you can use a USB-C connection directly to the batteries. Both models sport IPX3 water-resistance ratings, as well as large 6-inch wheels for semi-rough terrain and a fold-down tray that is also used as a handle. You can get a full rundown on what to expect in our hands-on review here.

Anker’s SOLIX Mother’s Day EverFrost 2 deals:

If you’re looking to electrify your life with a backup power solution, be sure to browse the power station discounts while the Anker SOLIX Mother’s Day Sale continues through May 11, complete with free gifts that accompany select purchases. We also spotlighted the brand’s deals on its other latest release, the F3800 Plus Portable Power Station that start from $3,199.

G-Force DE-S e-bike

Get serious cargo-hauling power on G-Force’s DE-S premium all-terrain e-bike with 160-mile range for $1,399

Despite G-Force’s Spring Sale e-bike offers slated to end with April, it appears that the brand has extended the savings, giving folks a little more time to score them at these lower prices before rates are raised down the road due to tariffs. Among the continuing deals, the brand’s latest release, the DE-S Premium All-Terrain Fat Tire Wide Cargo e-bike is still being offered at $1,399 shipped. This new model normally carries a $1,799 price tag, with things uncertain as to how high it may rise in the future, with the brand’s previous Spring Sale bringing costs down to this same rate last month. It’s a solid $400 off the going rate while things last, with this being the lowest price we have tracked since the brand came onto our radar.

A serious model with equally serious cargo-hauling capabilities, G-Force’s DE-S e-bike comes with a 750W brushless geared hub motor alongside a waterproof and flame-retardant 45Ah removable battery in order to provide you with 28 MPH top speeds and up to 160 miles of pedal-assisted travel on a single charge. While this bike comes with a cadence sensor, the brand has also equipped it with an additional PAS sensor that allows the rider to control the e-bike’s output power, “eliminating the need for a torque sensor to achieve a smooth riding experience,” according to the brand.

It’s got a solid array of features that make the riding experience all the better, like the smoothed-out cruising thanks to the adjustable front fork suspension paired with the rear suspension system, further bolstered by the fat tires. Alongside these, there’s also hydraulic mineral oil brakes, a 7-speed Shimano derailleur, a 48V LED “ultra bright” headlight, an integrated taillight, an extended rear cargo rack that supports multiple load modes (cargo, passenger, child seat installation, more), hidden cable routing, removable pedals, a telescopic comfort saddle, and a backlit LCD display.

G-Force’s other e-bike deals:

EcoFlow DELTA 2 Portable Power Station

EcoFlow offers flash sale on 2,048Wh LiFePO4 DELTA 2 bundle with an expansion battery and bag at $849 (Today only)

As part of its ongoing Spring-to-Summer sale, EcoFlow has launched another 24-hour flash sale with two offers – one to provide backup power support while the other provides solar support to your power stations. The first of these offers gives you a DELTA 2 Portable Power Station bundled alongside a Smart Extra Battery (expansion battery) and a bag for $849 shipped. The combination of the station and battery would normally cost you $1,798 at full price, which we’ve been seeing in the brand’s direct 2025 sales usually falling to $949. This means that you’re getting the additional travel bag with a further $100 markdown, one of the best prices we have tracked that is also currently matching on Amazon, though, without the bag.

This is quite a solid combination for short-term off-grid power needs, as well as at-home emergency backup. With the inclusion of the extra battery, EcoFlow’s DELTA 2 power station goes from a 1,024Wh to 2,048WH LiFePO4 capacity, which you can further expand to 3,072Wh with another battery connected. It delivers up to 1,800W of steady output through its 15 port options, which surges to 2,200W for larger needs. There’s the usual array of smart controls available through its companion app, as well as the unit coming with an IP68 waterproof construction, knowing that it’ll likely accompany you out into the wilds of the world.

The station’s battery can be recharged in a short time thanks to the fast-charging tech that the brand has given it, letting you refill 80% of its battery in just 50 minutes via a wall outlet, with things taking a little longer at 80 minutes to get it back to full. Of course, there’s also the solar charging capabilities if you have or plan to buy the appropriate panels, with a max 500W input that can recharge the battery in three to six hours, depending on weather conditions.

EcoFlow is also providing the opportunity to grab two of its 110W Solar Panels at $329 shipped while these flash savings last. Outside of this discount, the panels are currently going for $209 each (and regularly run $399), making this is a great chance to score both at about $165 each, giving you the means to recharge the above station’s – or any other model – battery with the sun’s rays.

Be sure to check out the full lineup of deals we’re seeing from EcoFlow’s Spring-to-Summer Sale while they last – which is only a few days longer. You’ll also find some additional coverage of the deals on the brand’s new WAVE 3 AC/Heater and GLACIER electric coolers that are starting from $807.

Best Spring EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Rivian CEO posts image of the new Maximus drive unit that will power the upcoming R2 EVs

Published

4 hours ago

on

May 5, 2025

By

Rivian CEO posts image of the new Maximus drive unit that will power the upcoming R2 EVs

Rivian R2

Rivian founder and CEO RJ Scaringe just posted a fresh image of a Maximus drive unit—a vital component teased for some time now that will be a key piece in Rivian’s goal to reduce the cost per drive unit in its R2 EV builds.

Rivian continues to show strength during uncertain times in the automotive industry, particularly regarding legacy automakers’ electrification strategies. While threats to EV adoption linger, demand for Rivian’s American-made BEVs has stayed high despite a slight dip in deliveries last quarter.

The company is still riding the success of its first two flagship models—the R1S and R1T, which are now in the second generation. Better still, fans of the brand and EV enthusiasts alike are highly anticipating the arrival of Rivian’s encore to the R1 models, the R2, which will then be followed by a smaller R3 and a rally-like R3X.

As a young automaker, Rivian has overcome hurdles to establish itself in the EV industry, finally achieving scaled production at its Normal, Illinois, facility. Part of that strategy includes consistent innovation and improvement to improve vehicle function and performance for its customers and optimize manufacturing to reduce overall cost.

Advertisement – scroll for more content

An excellent example of that evolution is Rivian’s Enduro drive unit, which was implemented on dual-motor versions of the R1T and R1S. Since then, Rivian has been teasing a new drive unit called Maximus, which we thought may also make its way into R1 builds, but have since learned will debut in the upcoming R2 EVs.

Today, Rivian founder and CEO RJ Scaringe offered a close-up look at Maximus being developed within the R2 design. Check it out:

Rivian R2
The Maximus drive unit / Source: @RJScaringe / Instagram

RJ teases the Maximus drive unit in the Rivian R2

According to RJ Scaringe, the image above is Rivian’s new Maximus drive unit configuration implemented in the R2. There’s not much else of the upcoming BEV to see here, but an exciting little tidbit nonetheless.

While most consumers have been attracted to the Rivian R2’s size and look, Maximus will play a key role in Normal as the American automaker works to reduce the per-unit cost of its drive units—a primary goal it has previously shared with the public.

One key improvement we already know about is Maximus’ stator windings—one of the key components of any electric motor. Previously, Rivian shared that Maximus uses a new continuous winding technique that reduces the total welds per stator and thus the total overall cost of building each one. For comparison, Rivian’s current Enduro drive unit requires 264 stator welds, while Maximus only needs 24.

Rivian has also integrated the front rotor shaft and gear into a single forged, CNC-milled component and reduced the number of required bearings. The result is a simpler, more compact drive unit that is cheaper to build and weighs less, which is excellent news for EV range and efficiency.

With Maximus development underway, Rivian appears to remain on track to officially launch the R2 next year as promised. Be sure to check back with Electrek often for the latest Rivian news about the R2 and beyond.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Sports

NBC’s Tirico left Derby broadcast with nut allergy

Published

4 hours ago

on

May 5, 2025

By

NBC's Tirico left Derby broadcast with nut allergy

  • Associated Press

May 5, 2025, 11:53 AM ET

NBC Sports host Mike Tirico said Monday he is feeling fine after having to leave the Kentucky Derby broadcast early over the weekend because of a strong reaction to a nut allergy.

“I’ve had a nut allergy my whole life and am usually very, very careful,” Tirico said on the “Today” show. “I ate something that had a nut in it and had a nut allergy, causing your throat and your nose and all that stuff to kind of clog up and swell. It affects your breathing a little bit.”

Tirico said he took an epinephrine shot and was treated by EMTs at Churchill Downs. He began feeling better later Saturday night.

“I’m embarrassed about the attention,” he said.

Ahmed Fareed took over for the 58-year-old broadcaster, who was hosting Derby coverage for the ninth year.

Tirico is set to host the Preakness Stakes on NBC on May 17.

Continue Reading

Trending