Yeah, it's insane here. Note that my employer pay 75% of my insurance premium as well.
I don't think the insurance industry per se is the cause. There are many issues that books have been written on.
Fundamentally though, because we lack any basic "safety net", yet require hospitals to provide emergency care without regard to payment hospitals are forced to recover massive losses by raising rates for everyone. That's why a cesarean childbirth can cost $40k -- if a woman in labor who didn't get prenatal care shows up, they need to care for her and don't get paid.
So we end up in this false debate where opponents to "socializing" insurance/medicine don't understand what is wrong, because they have middle-class jobs with paid insurance as a benefit. It doesn't compute for some reason that they are already paying for it!
My wife recently had a child. Minor complications ensued at delivery. Total cost: $40k.
My cost for insurance? $3,120 a year, plus about $400/year in copays. The gamble has worked out for me.