Why is Healthcare so Expensive in the US?

The average US household spends approximately $8,000.00 per year on healthcare. The US spends twice as much on healthcare than other developed nations. Despite all of this spending, the US healthcare system ranks 37th in the world and last among 11 industrialized nations. Major health insurance companies along with large pharmaceutical companies contribute massive amounts of money to politicians at all levels in order to maintain the status quo. This allows them to continue to reap massive profits and deny a majority of Americans quality healthcare at affordable prices.