If some wants to be insured by Maine State Podunk Hack Insurance, fine. I would prefer to be insured by Honda of Tokyo or something like that.
What happens if Honda of Tokyo fails to pay a claim for you? Are you going to have legal recourse through the United Nations, or through the Federal government?
The biggest problem you'll find in the insurance industry is that the "least expensive" insurance plans will also be the least stable in terms of the financial stability of the companies involved. You can go to almost any state in the South and find plenty of horror stories from people who paid premiums on insurance policies for years, only to have the insurance carrier collapse in insolvency when they needed to file a claim.
Bull. Wal-Mart, the early Ford MoCo. Toyota. There are just as many examples of low/lowest cost manufactures and service providers being more stable, more popular than high cost providers. The trend this century has been continued lower costs and increase quality anywhere the government doesn't regin.
"You can go to almost any state in the South and find plenty of horror stories from people who paid premiums on insurance policies for years, only to have the insurance carrier collapse in insolvency when they needed to file a claim. " Three letters. AIG. Total toilet.
I have no doubt that those companies, with names like Rebel Yell Confederate Health D'Royal charged premiums significantly below the market average.
. Frankly, I don't care what some dullard, dolt that thinks he can fly first class at economy fare does.
I'm concerned about me, and the vast majority of citizens that can tell the difference between a Mercedes, a Ford and a Yugo. Most people know you don't get what you don't pay for. I would love to see Wal-Mart use it's price/cost skills to delve into health care, nation wide, out of a state with little oversight. I trust the free market over government any day.