Health “insurance” is NOT…INSURANCE. When everyone’s house is on fire at the same time we’re not talking about managing risk, we’re talking about a perpetually increasing spend.
Please listen to this insightful explanation by David Goldhill where he discusses this phenomenon and explains why Healthcare is not the economic Island that we made it out to be. Instead, much of what we believe and what we’ve done to healthcare, as far as economics and regulations, has made it an island unto itself. This is a huge part of the problem and one that has largely been self inflicted.