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But none of these things are happening in US, you have double the cost of healthcare for a lower life expectancy than countries of comparable living standards who have universal healthcare.

What's going wrong with the system of perfect competition with insurance companies?

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> What's going wrong with the system of perfect competition with insurance companies?

The biggest problem is the regulatory incentives for employer-provided insurance. This creates indirection (a corporation is choosing the insurance plan rather than the patient) and whatever is spent is tax exempt, which creates the incentive for employers to provide the most expensive low-deductible plans that are also the least efficient and involve the insurance bureaucracy in the smallest dollar value medical procedures.

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