That's not entirely accurate and that's not even the meaning of free market.
Water is also a necessity as is food and you can have a free market for those.
The questions are:
1. Does the buyer have enough choices or alternatives to choose from when it comes to healthcare?
2. Do those who offer services have a monopoly on the service?
When you look at the US market you'll find that it doesn't meet those criterias. Market forces are prevented from acting and being able to reduce costs.
The fact that there is a captive audience, as you suggest, means that we cannot just shovel money into it. You end up exactly where you are. Costs go up because it is a necessity. Same reason food prices go up when there is a shortage. It is not a luxury.
Water is also a necessity as is food and you can have a free market for those.
The questions are: 1. Does the buyer have enough choices or alternatives to choose from when it comes to healthcare? 2. Do those who offer services have a monopoly on the service?
When you look at the US market you'll find that it doesn't meet those criterias. Market forces are prevented from acting and being able to reduce costs.
The fact that there is a captive audience, as you suggest, means that we cannot just shovel money into it. You end up exactly where you are. Costs go up because it is a necessity. Same reason food prices go up when there is a shortage. It is not a luxury.