The Macabees wrote:
The reason why medical insurance costs are so high is because the medical profession is highly regulated. It is extremely difficult for one to achieve the knowledge to be a doctor. If the M.D. field was not regulated there would be more doctors. Any problems with reliability or capabilities of these doctors would be regulated by the only true regulator, the consumer. That is, nobody would go to a doctor that has a bad rap. However, a competitive private market would ultimately drive down prices.