Dr. Mehmet Oz, the celebrity TV doctor nominated by President Trump to oversee Medicare and Medicaid, has pledged to divest from most of his financial interests. However, these interests touch nearly every corner of health care, from insurance to blood pressure cuffs and vitamins, leading experts and lawmakers to doubt he could make impartial decisions.
In one notable case, Dr. Oz directed his viewers to a call center for Medicare Advantage plans in an episode still available on his YouTube channel. The for-profit company operating the call center, TZ Insurance Solutions, had paid to be featured, and Dr.
Oz even became a licensed broker for TZ Insurance in almost every state, allowing him to sell plans directly to viewers. An examination of his myriad financial interests revealed not only opaque ties with the industries he may soon regulate but also a coziness with health care companies that lawmakers have already highlighted in questioning his independence. Dr.
Oz, often called “America’s doctor” by Oprah Winfrey, is one of America’s best-known daytime TV personalities. However, little is known about how he monetized his fame over the years. All told, his business and family ventures are valued at a substantial amount.
As Dr. Oz prepares for a potential role overseeing Medicare and Medicaid, his deep financial entanglements raise significant questions about his capacity to serve impartially without conflicts of interest.
Oz’s financial entanglements raise doubts
Dr. Oz has stated in an ethics filing that he will sell shares in multiple companies, including major pharmaceutical and health care firms like Eli Lilly and UnitedHealth Group. His financial disclosure revealed that he owns between $5 million and $25 million in vested restricted stock units, which he plans to divest within 90 days following his confirmation.
Additionally, Oz will leave his advisory role at iHerb, LLC, a nutritional supplement company he promoted on social media, to avoid any conflict with his upcoming responsibilities at CMS. Despite these divestments, he will retain his position with Zoco Productions, LLC, although he will not receive any compensation for services performed during his time in public office. This means he can continue to make media appearances to discuss health policies but with restrictions on discussing topics related to Medicare and Medicaid.
If confirmed by the Senate, Oz would oversee programs like Medicaid, Medicare, and the Affordable Care Act, which more than half the country relies on for health insurance. Medicaid provides nearly-free health care coverage to millions of the poorest children and adults in the U.S., while Medicare offers health insurance to older Americans and the disabled. The Affordable Care Act provides health insurance plans for millions of Americans who do not qualify for government-assisted health insurance and do not get insurance through their employers.
As the administrator for CMS, Oz would make crucial decisions on government coverage for procedures, hospital stays, medications and the reimbursement rates doctors and providers receive. Oz previously ran an unsuccessful 2022 bid to represent Pennsylvania in the U.S. Senate as a Republican. During his campaign, he advocated for the expansion of Medicare Advantage, an increasingly popular version of Medicare that is run by private insurers, despite allegations of the program defrauding the government by billions of dollars.
Before turning to politics, Oz was a renowned heart surgeon at Columbia University and gained fame through his television appearances, including his own daytime talk show. However, he also faced significant criticism from the scientific community for promoting unproven weight-loss drugs and other health products, leading to calls from colleagues at Columbia University for his removal, and rebukes from senators during a 2014 hearing. Oz’s confirmation hearing to become CMS administrator has not yet been scheduled.