Prices are high because of inefficiencies in the markets caused by bad laws attempting to subsidize one class of people by another.
Hospitals aren't able to refuse treatment to those that can't afford to pay for their services, insurance companies are forced to insure unprofitable people and the net effect is to try and coerce people into a redistribution of money from people that require more care from those that require less care to cover these expenditures.
Because there is no mechanism to coerce people to do this willingly both industries to give the invoices to the government (who created the problem) thereby getting rid of the requirement to think about how they will fund their expenditures - making it the governments problem to figure out.
This thereby allows them to continue uncontrolled expenditure in an ever increasing downward spiral to catastrophe as in effect they are spending 'other peoples money' in the hopes that "eventually these invoices will be paid" through some sort of government sponsored coercion mechanism forcing socialized heath care or some other such method with the same result.
Its really quite simple and clever.
-5% of the population accounts for more than half of all health spending.
-50% of the population with the lowest spending accounts for only 3% of all total health spending.