According to @mcuban, the latest Medicare for All draft gives the HHS Secretary broad discretion over the drug formulary and definitions of medical necessity (p.31), introducing implementation risk traders should note (source: @mcuban on X, Nov 9, 2025). He states providers can opt out of the system, refuse M4A payments, and require patients to agree not to file claims (p.27), which he argues advantages high-end providers unwilling to accept Medicare rates (source: @mcuban on X, Nov 9, 2025). He adds that all drug prices would be renegotiated annually (p.53) and that most private insurance would be eliminated except for supplemental plans, pushing providers toward in-house financing and credit checks with lower overhead (source: @mcuban on X, Nov 9, 2025). He highlights language in Sec. 303(b)(1)(B) that appears to allow contracting only during emergencies and notes the same wording in a 2023 bill, calling it nonsensical or a typo (source: @mcuban on X, Nov 9, 2025). He further argues the plan lacks gatekeeping or premium-based cost controls used by systems like Canada and the UK, risking budget discipline (source: @mcuban on X, Nov 9, 2025). For traders, these points outline U.S. healthcare policy risks around reimbursement, provider participation, and drug pricing that can shape positioning in insurers, hospitals, and pharma, while also serving as a macro headline that crypto participants may track for sentiment shifts (source: @mcuban on X, Nov 9, 2025).