CNN was howling a few minutes ago about how the health care system in the Netherlands has "killed off" competition among insurers.
If our system is so competitive and all of our insurers have to turn somersaults in order to compete with each other ...
Why are insurance premiums so high?
Why is coverage incomplete and growing more so each year?
In a competitive environment, insurance companies would be bidding to outdo each other, to provide the most coverage for the lowest price.
This isn't the case.
Competition ... competition ... where's the competition?
Somebody better unearth this mysterious competition that is driving our health care industry to bring us more coverage for lower prices.
'Cuz I just don't see it.
If you look at the business model of the insurance company, you will see that it is all about harvesting the most revenue from customers, while providing the least benefit in return.
Sounds kind of creepy when you think about it, but isn't this how every business operates?
What makes the insurance industry different? What factor is out there that allows them to keep themselves untouched by the normal forces of competition between businesses?