The trouble with letting the free market regulate itself in healthcare, is that there is no free market, just a bunch of local monopolies, local oligopolies, and drug-monopolies. Furthermore, almost all healthcare providers do their best to obscure prices until after you become obligated to pay whatever the price was. Have you ever walked into a doctor's office and seen a menu with prices? I don't think so. Free market does not work in the absence of informed consumers who can easily shop around for the best price/quality.

@ Slyrr

Very simple bro. Medical Insurance in America is FOR Profit. The less care and less procedures people receive, the MORE profit Medical Insurance companies get. Therefore, medical insurance companies try everything within the law to limit people receiving care or procedures. Yes, it is that simple. With socialized medicine, they've got NO reason to withhold care other than medical reasons. Insurance has the second highest profit margins next to banks.

It's also sort of an oligopoly, most people are stuck with the insurance company that their employers offer and can't shop around if they're unsatisfied. It may be different if the market was flooded with health insurance companies and they really had to compete, but as of now people are usually locked in. (I'm just saying if I was a free market capitalist, this would make me feel better.)