You might think, screw the insurers, they went along with this travesty. But through the risk corridor provision, the insurers are protected from loss. It was the bone that was thrown to them to get them aboard. Theyll get theirs. Taxpayers will get hosed.
The other issue is that all of the insurers had to revamp their entire product portfolios in order to comply with the 0bamacare rules. All of the pricing and product specifications were set up that way. They are really not in any position to “go back” and let you keep your old policy if you liked it.
Another question I have is whether 0bama, on his own, changing the rules, actually provides any cover for the insurers to offer their “old” plans, or would they be deemed to be breaking the law if it came down to a court action?
Yes, the insurers are not fully covered. They will accrue losses and as they adjust rates upward to reflect the makeup of their subscribers (more sick, fewer healthy), that’s when the “death spiral” accelerates. The more expensive the coverage, the fewer healthy people will subscribe.