I have no idea why - and I'm someone who has worked in the health insurance industry - it was ever allowed to be called insurance in the first place. It has onl

I have no idea why - and I'm someone who has worked in the health insurance industry - it was ever allowed to be called insurance in the first place. It has only ever resembled insurance in the vaguest possible way (HDHPs are probably the closest thing to actual insurance now). Insurers like to take all the benefits of the insurance model, and as few of the downsides as possible. I mean, look at the model of "first you have to meet your deductible, then you have a co-pay which is your 'contribution' to your health care, but also you have to pay coinsurance which is the your portion of your costs after the deductible". It's a partial amortization scheme for healthcare with a little "benefit of group negotiation" thrown in (when it doesn't actually cost "you" more to go through insurance than out of pocket... "you" because some people, like Martin Shkreli, make money pushing the illusion that somehow insurance companies are magical money fairies who pay providers with something other than the premiums you and I pay, either directly or through an employer...).