Are you talking private insurance or socialised risk mitigation?
The goal of private companies is to make profits. There is space and use cases for both models. Of course large private companies put efforts into making people believe that's not the case.
It's not always that clear e.g. genetic disposition to alcoholism is linked to actual alcoholism and related behaviours.
Is there a point of private health insurance?
Nope, they should not. That's exactly the kind of things that ends up bringing prices up for everyone in the end.
Do you understand why discriminating job applicants based on race/sex is illegal but not based on GPA?
One is something you were born with. Another is something that you did.
Socialize medicine, please. A million dollars for a cancer treatment is insanity, when nearly 50% of the US population will get cancer at some point in their lives.