I agree, out of business is a bit harsh. But they also push for a model where they are heavily involved in plans requiring a lot of intervention, and therefore fees.
I would disagree that “they” - meaning the health insurance industry - pushed for all of this intervention. Remember, before government and unions got involved - the model from the industry was a lean catastrophic only product called major medical. That’s the way they make more money with less employees. They gross more billing the current way, but it’s not nearly as clean of a business model. I’m sure some in the industry like this, but history dictates that left to their own devices, the industry would have stayed with the major medical cat coverage model.