Time and other resources are scarce. The more resources that are tied up in the healthcare the less available for other things.

Other countries are getting better health results for way less money which all other things equal makes Americans comparatively less well off.

When I pay $1500 and dozens of hours of time for something that costs $2 and 15 minutes in another country, I am less well off.

I like being healthy, but I'd rather be more healthy for less money than less healthy for more money.

You are right, the money isn't transferred off into a void, it is a wealth transfer from consumers to the healthcare industry.