The solution to this "problem" is not to impose a mandatory insurance requirement on all Americans . . . it's to eliminate government-run hospitals and government-mandated emergency care requirements for hospitals entirely. Medical facilities should be run as private businesses, and charity care can be provided at the hospital's discretion however it sees fit.
I would differ with you. Business is notably hard hearted when it comes to the bottom line. Your solution would simply deny care to millions who cannot afford it, while profits would continue to rise (because they can).
What I would propose is to allow (in fact encourage)churches to get back into the health care business as it was prior to the '70s when they were taxed out of the game. That is the nexus point for the astronomical cost increases in both insurance and health.
If we as a country were willing to let people with treatable illness die simply because they were too stupid to buy health insurance or save money for health care, that would work.
But I doubt you could get 5% of the public to support such a concept. We are happy to make stupid people drive crappy cars, eat cheap food, live in run-down rental units.
But we aren’t ready to let them die of treatable illness.
That skews things, but it isn’t unmanageable. The current system simply isn’t set up to provide appropriate incentives to counter the “free lunch” philosophy that stems from knowing that nobody is going to let you die of a treatable illness, at least if the treatment isn’t hundreds of thousands of dollars.
It’s not just government, look at how thousands of dollars are raised for individuals who come down with treatable diseases. Nobody who donates seems to be asking why the family didn’t spent a hundred a month for a catastrophic care insurance, rather than waiting until they had hundreds of thousands of dollars of bills and then expecting strangers to donate money to fix it.