It will have little to no impact on rates. Companies rate the insurance based on the zip code of where the insured lives and where the services will be accessed. Also insurance networks tend to be local so if you live in Texas but buy a a cheaper plan from Oklahoma it is quite possible you might not be able to find a provider in your local area that is in Network making the coverage next to worthless. This buying across state lines is a red herring.
Oops, just read your post after I posted.
“It will have little to no impact on rates.”
Sure it will. When a company in Idaho can sell to a consumer in Massachusetts it’ll make a dent on the rates that the market in Massachusetts has to bear.
Huge impact on rates. Multistate employers already have this system. They are exempt from state requirements and their plans are much cheaper than a small 12 person company. My company insures people in every state with a plan adminsterd by CIGNA. But this will be health care insurance not health care spending.
More competition is always good for the consumer.
It will have little to no impact on rates.
Companies rate the insurance based on the zip code of where the insured lives and where the services will be accessed.
Also insurance networks tend to be local so if you live in Texas but buy a a cheaper plan from Oklahoma it is quite possible you might not be able to find a provider in your local area that is in Network making the coverage next to worthless.
This buying across state lines is a red herring.