Yeah, but as usual Comrade Bernie is over-simplifying and in effect lying about his Medicare For All proposal.
It is true IMO that we pay too much as a nation. And it's not just insurers who behave akin to racketeering, it is hospitals, medical providers, testing labs, imaging facilities, drug companies, pharmacies, and even nursing homes. Pricing of healthcare in the US is completely opaque, which fascinates me. In the 1950s there was so much frustration about opaque new car pricing and manufacturer-dealer collusion that a law was passed requiring window stickers on new cars. The legislation in Congress was sponsored by a senator from OK named Mike Monroney, and the resulting window sticker was popularly called a Monroney Sticker for a long time. Healthcare needs similar transparent pricing and, IMO, non-discriminatory (no negotiation) pricing.
What Bernie is lying about is that he can make services in short-supply free from a buyer's perspective, increase the population of full-access users, reduce the prices received by the providers by 25%, and then assume everyone is going to get a reasonable service level. It's simple economics; if you reduce prices to zero, it causes a far higher level of demand. Not to mention his plan to confiscate intellectual property for drugs in the event companies don't accept the government's pricing offer. But the biggest lie of all is called free, unlimited universal healthcare with no deductibles Medicare. Medicare is nothing like that, and he obviously called it Medicare For All to give his proposal an air of practicality - we already have a working Medicare program, right? - so that he can build support with the uninformed. Sanders is no better than Trump from an honesty perspective.