Do Health Insurers Really Provide A Needed Service?

The following is part of a post by economist Paul Krugman: Let me offer a somewhat, but only somewhat, caricatured view of U.S. health care: It’s a system in which taxpayers bear the cost of major medical care, but this taxpayer money flows through private companies that take a cut, spend a lot on administration, and do their best to deny care to people who need it. This (almost)…