Eliminate all health insurance profits, and what’s left?
Those who advocate government takeover of health care and the elimination of private insurance cite the "wasteful overhead" and "high profits" of health insurance companies. There's a lot in this argument that doesn't make sense. For one, most companies that are trying to earn a profit seek to eliminate as much waste and overhead as possible. Competitive markets force them to do so. It's puzzling to me that those who rail against greed don't acknowledge that it is a powerful motive for efficiency and cost reduction. While the health insurance market isn't as competitive as it could be, due to…