Should Health Insurance Be on Wall Street?

I am a capitalist.

I believe businesses should be able to innovate, compete, grow and earn a return on the value they create.

But health insurance is not an ordinary product. Patients cannot shop for care the way they shop for a car, a phone or a vacation. They often need care at the most vulnerable moments of their lives. In many cases, they cannot choose their insurer, cannot understand the insurer’s negotiated prices and cannot wait while two companies argue over who should pay.

I keep returning to an uncomfortable question: Would American healthcare be better without health insurers on Wall Street?