Introduction: The healthcare sector comprises a prominent segment of the American economy, touching all people’s lives and supporting their health and well-being. This sector currently consumes nearly one-fifth of the US GDP, with its share continually rising. In 2019, the healthcare sector employed 11 percent of American workers, and healthcare spending accounted for 8.1 percent of consumer expenditures, one of the largest categories. Healthcare expenditures absorbed over 20 percent of total government spending and over 25 percent of federal government spending; in addition, health insurance constituted 26 percent of nonwage compensation, the largest component (BLS 1980– 2019a, 1980–2019b, 2019a, 2019b, 2010–2023; BEA 1987–2019a; CMS 1960–2022; and authors’ calculations).