Absolutely wrong!!!
Healthcare is one services that if left totally to free market dictates, almost no one would be able to afford it. Unlike car insurance, buying a care, a house, food etc, as you grow older or actually participate in life, your olds of using health care rises. A 25 year old general has less use for medical services as compared to a 55 year old, given they both lead equally health existences. The 25 year old is the customer the heathcare industry markets least to, except if recreational drugs become legal and then, watch out for the bombardment of marketing and then corresponding drugs to counter the dissipation (ain't capitalism grand!)
Not that I agree with it, but health insurance was designed to spread the risk around of the costs. It is inefficient and it does ad layers of bureaucracy to the system, but barring the most efficient method of distributing health care, a national single payer system similar to what the Veterans Administration or Medicare uses, it is difficult to cover everyone efficiently. That is why the republicans can never offer an alternative to their system President Obama got implemented. A single payer system would be the best way to distribute the cost of health care.