First, you seems to conflate "free markets" (Whatever free means here?) with decentralized spending. How does that make sense?
And more importantly: If we can agree that a democracy ought to be an aspiration for a society, and a functioning democracy requires some minimum level of equality, how will you ensure that under your "free market"?
Maybe the difference, 16% points, is what affords the European a fair treatment upon illness where half of that is "shareholder value" in the US.
Feel free to link the study you used so we don't just have to trust some internet rando.