Earlier quoted context omitted.
The fundamental problem is the very idea of private "health insurance". Market forces naturally create low rates for those who don't need insurance and unaffordable rates for those who do. But over time, everyone gravitates from the former to the latter. The "free market" does not offer a practical solution to every problem. Tariffs are an open admission of this basic fact.
The problem rather is the insane amount of red tape involved if you want to set up your own health insurance company. Thus hardly any competition for the established player arises. The result is what any arbitrary textbook about economy will tell you: if there are large barriers to entry into a market (i.e. the opposite of "free market"), the customer won't get the positive consequences of a free market, but instead…
All these companies follow suit with the market forces described above. They all want to insure young healthy people and deny old sick people --- simply because they make more money by doing so.
Over time, everyone (including you) will naturally gravitate from young and healthy to old and sick --- aka uninsurable.
Are you content for yourself or your family to be uninsured when they need it most --- after a lifetime of paying premiums? This is what private, for-profit health insurance manifests.
This is not due to "red tape" or lack of competition but is a fundamental and unavoidable characteristic of the "free market" itself.