You've made a false assumption that "intense competition" (italicised for emphasis!) always makes things cheaper. It doesn't apply with health insurance, which

You've made a false assumption that "intense competition" (italicised for emphasis!) always makes things cheaper. It doesn't apply with health insurance, which is why health costs are so much higher in the U.S than anywhere else. [1] Fact: the system of private health insurance in the U.S makes it more expensive for everyone. Source: every other western country paying far less. It is possible for the free market to fail when the thing people are buying is something they would pay any amount of money for. [1]http://gamapserver.who.int/gho/interactive_charts/health_financing/atlas.html?indicator=i3 http://gamapserver.who.int/gho/interactive_charts/health_fin...