Why exactly, do we tolerate the medical insurance industry?

Basic economics states that you have to provide a value in exchange for payment. I cannot think one one single benefit, increase in efficiency or reduction in operating costs that have resulted for the insurance industry. Could it be that the reason medical care is so expensive is that it has to support layers and layers of useless feeders and bureaucrats who command obscene payment but provide no value added? Am I missing something here? seems like we pay the medical insurance people so they can be there to take our money? What does this industry contribute?

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