America's health care system consistently ranks as the most expensive in the developed world. It's not, as some politicians claim, expensive because markets have failed. It's expensive because the market has been repeatedly blocked from succeeding. Until we're honest about that, any potential reforms will only address symptoms while ignoring the disease.
The health care market is hindered in many ways, but the core structural problem is simple: The person receiving care is almost never the person actually paying for it. Roughly 90 cents of every dollar is covered by a third party—an insurer or the government.
