Insurance companies will not be driven out of business. They will simply not insure.
Their model has always been passing the costs through and calculating the cost based on the risk.
Mandates on insurance companies can work if we have the stomach for the cost of the mandates, but the higher cost will discourage even more from paying in, which will make the pool even more expensive to stay in.
Insurance companies will insure other things and do very well ... they are cherry pickers. They will make money, always. Like the casino that has something for everyone and takes a cut, but dumps the things that don't make money.
Congress does not have the courage to cut these people off, but also does not have the money to keep paying for them.
Pushing them onto the insurance companies will work if all the young people are forced to pay much higher rates.
My belief is that this is a strategy to force the political discussion into the government again reclaiming healthcare and taxing us all, as they currently do in Canada ... and get ready for waiting lines, certain end-of-life things not being covered and a death panels … and 66 percent income tax, like Canada.
It smells like a trap to get the public stirred about government healthcare driven by those who are about to be cut off the entitlement bandwagon.