It can, and it does in other countries. The U.S. is a huge outlier in the developed world in letting insurance companies run as for-profit entities with 20% adm

It can, and it does in other countries. The U.S. is a huge outlier in the developed world in letting insurance companies run as for-profit entities with 20% administrative overhead. We pay ~18% of GDP for healthcare (1st in the world) and yet are nowhere near the top in terms of overall outcomes. In Japan, insurance companies have ~3% administrative overhead and run a non-profits. They pay 11% as a fraction of GDP, despite a huge relative proportion of elderly and an extremely high usage rate (no one goes to the doctor more than the Japanese)