They effectively lost it with the implementation of Obamacare. The premiums and deductibles are so high that the plans only really protect against catastrophic loss for an obscene monthly cost.
60% YoY premium increase for the last 2 years on my parents' plan with a $13k deductible. Highest increases they have ever had. It's an anecdote, but it's certainly antithetical to what you said.
That's not health insurance in the US. Here it's more like a payment plan on future service. I can't wait until the car insurance industry gets on board and starts covering preventative care such as oil changes, air pressure checks, and windshield wiper blade replacements.
