Freeper Insurance Professionals will may see it, but everyone needs to think about it and that is...
Insurance typically was State based, State Regulated and was an exercise of the 10th Amendment. States would try to streamline their laws ( on the retail and State Regulatory side ) via Industry Groups and Organizations. And that makes sense, you might as well streamline the testing and requirements for an "Agent" in neighboring States that might want to get a license right across the line and do business in both.
What Obama did was in essence federalize and industry ( or a part of it ) that was typically State based, and help to "Fundamentally Transform" America just like he did with destroying Contract Law with the GM bailout and the Sibilius Mandate.
Jindal's proposal would move Health-Care back to the States and the Individual.
Chalk one up for Bobby Jindal, well played Governor, well played....
"Medical insurance" isn't really insurance at all. When you buy an insurance policy, you make payments to an insurance company to transfer the financial risk associated with a catastrophic event with a high cost to the insured but a low probability of occurrence. With medical insurance, claims are filed with such boring regularity (especially as people get older) that it functions more like an installment plan for medical services than an actual insurance policy.
Secondly, there's another angle to this that might make it worthwhile for states to get out of the business of regulating medical insurance even if they have the authority to do so. Even before ObamaCare, the laws and regulations (both state and Federal) governing health insurance were so complex and intrusive that they effectively prevented the insurance industry from accurately pricing risk into their policies. Once this happens, it's not even insurance anymore. Telling an insurance company that they have to charge premiums based on projected financial exposure -- while at the same time telling them that they can't include lifetime limits in their medical insurance plans -- is about as idiotic as it gets, and is a huge incentive for the entire industry to close shop. That's like selling someone a homeowner's insurance policy on a $300,000 home, while at the same time being required to replace it with anything that could be built on the property at any price if it burns down.