Thoughts
Not to be libertarian, but there's a law in America that sets a minimum medical loss ratio—i.e. it caps the percentage profit an insurance
company can make.
I'm not an economist but it seems like a bad idea because the only way to increase profits is to increase expenses. I think it was a part of ObamaCare which only went into effect in 2012, but insurance costs have been rising disproportionate of other countries since before that, so it's not our only problem.