When it comes to the U.S. health insurance market, the adage about communist economics is apropos. In this instance, instead of being “they pretend to pay us, we pretend to work”, it is “they pretend to sell insurance, we pretend to buy it”.
What we call health insurance in the U.S. is not insurance at all. If you want to address the problems of declining health care quality and rising health care costs, then fixing the insurance markets is a must. The full editorial on Forbes.com can be found here.