Yup. That is why this stuff is so maddening! Same with our food supply and why we’re still running on oil and gas. Track back every industry really and at some point, there will be some greedy SOB who wanted to extract more wealth faster than the “free market” would give it up.
“Three low payments of $x,” leases and the JIT gig economy are just other ways of extracting wealth where there is none to suck. The health insurance industry has just been at it longer and is more entrenched.