Here's where the insurance companies really fail us. They over-pay hospitals, specialists and drug companies and then raise premiums to cover the costs. Further, when they pay hospitals 115% of what it should cost to care for a patient, they are paying for inefficiency that can be dangerous.

Insurance companies pay big bucks for procedures but next to nothing for patient consultations and preventive medicine, which is what most medicine is.

To get discounts on some drugs, private insurers are willing to pay top prices for blockbuster pharmaceuticals like Vioxx, despite the fact that Vioxx was rumored to cause fatal strokes and heart attacks.

Alex Gibney Quotes