“In the medical area, we all pay more than we should because healthcare providers are charged such stiff premiums for their malpractice insurance.”
While I agree with your general take, I don’t agree with that statement. The size of malpractice premiums is really quite reasonable for most areas of medical practice if you believe this:
https://www.youtube.com/watch?v=r9q1Id41wGo
Lengthy, about 1 hour, but worthwhile, IMO. I was surprised.
While I am a capitalist and I support the right of insurance companies to operate and to provide insurance; I believe (and you may or may not agree according to your sensibilities) that HC insurance (specifically, the miserable Doc compensation rates provided) is about 65% responsible for excess HC costs. The remainder (again, my opinion) is largely a function of federally and locally-enforced and ratified monopoly structures such as CON laws and the prohibition against importing Rx drugs.
Toss in zoning and licensing restrictions that limit access and portability and you’ve got another government created mess aka a “market failure”.