- Senate probes Oz's financial ties to 23 healthcare firms
- Tax strategies allegedly shortchanged Medicare by $400k
- Medicare privatization plans draw bipartisan concerns
President Trump's controversial CMS nominee Dr. Mehmet Oz faced intense questioning Friday about financial entanglements that could influence his leadership of the $1.3 trillion healthcare program. Senate Finance Committee members highlighted Oz's investments in 14 Medicare Advantage providers and consulting fees from 9 pharmaceutical companies since 2021.
New analysis reveals Oz's use of S-corporation structures reduced Medicare payroll tax contributions by 38% compared to standard employee rates. This tax strategy, while legal, has drawn criticism given his potential oversight of the very program he allegedly underfunded.
The hearing turned contentious when Senator Warren confronted Oz about his 2022 campaign suggestion for local officials to review abortion procedures. Healthcare analysts warn this stance could jeopardize Medicaid funding for 19 states protecting reproductive rights through 'medical sanctuary' laws.
Medicare Advantage emerged as central debate, with Oz defending his proposal to expand privatized plans. However, a Texas case study shows rural hospitals face 26% longer payment delays from Medicare Advantage providers compared to traditional Medicare - critical context absent from Oz's public statements.
Industry experts note Medicare Advantage enrollment has grown 47% since 2020, creating new challenges for CMS oversight. Oz's financial disclosures reveal stock options in 3 insurers dominating this market sector, raising recusal questions for 38% of anticipated CMS decisions.
The nominee's controversial wellness product endorsements resurfaced, with committee members citing 14 FTC complaints about Oz-promoted supplements now covered under Medicare Part D. Oz pledged to divest $2.8M in health tech stocks but refused to recuse himself from related policy decisions.