How has lack of govt. intervention lead to increasing health-care costs in the US?
It is not so much lack of government intervention as it is government passing laws that allow it. In many states, only a few health insurance company’s are allowed to operate, they often can’t be sued if they don’t pay for the best possible treatment that results in problems for you (e.g. your death), hospitals are allowed to charge people w/o insurance 3 to 10 times more than people with insurance (thus, even if you have some money, you still must buy health insurance as its much cheaper than paying cash). How did this come about? The health insurance companies made huge donations candidates and political parties. As a result, over the last few years, the insurance companies went from taking 1% or 2% if your insurance monthly bill for ‘administration’ to now taking 15% to 20%! This resulted in even bigger ‘donations’ to political campaigns.
