You are correct inasmuch as medical care was affordable due capitalism, competition, no international pharmaceutical companies jerking around the costs of medications, but in those days the government wasn’t telling us how to live our lives as they are today, and THAT in itself is a major reason for todays cultural collapse.
A couple years ago we were cleaning out my deceased mother's files, and found a receipt from the hospital for the birth of my oldest sister in 1954. Total cost including attending doctor, anesthesia, a day in jaundice care, and 7 days in a double room - $250.
My father was a HR clerk at an industrial company, and I estimate he made and average salary for the time - about $4500. If you extrapolated $250 to the average salary today, the cost of having a baby now should be slightly less than $3000.