"Health insurance companies are requesting rate increases of 40% or more. I'm old enough to remember when businesses didn't have to request the government's permission to increase prices.
They just raised prices as they wished, without getting the approval of a political commissar or a five-year planning board!
However, in those days, we had more of a free market, so if a company raised prices too high, its sales went down as customers went to lower-priced competitors.
There actually was a natural check on higher prices that didn't involve government intervention.
The free market setting prices – that sounds so weird and old-fashioned now, doesn't it?
But anyway, insurers are requesting increases of up to 40% or more..."
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