Two missions of the Affordable Care Act pursued in the United States (ACA, aka Obama care) were to: (1) enable all Americans to be insured (entailing regulation of Private insurance industry so as that can happen); and (2) reforming the financing/remuneration of medical care services so as to reign in costs.

Speculate and then elaborate upon the market failures that these two missions were aimed at addressing. Using this question as a vehicle, speculate on what types of reforms might have been invoked to pursue each of the two missions.