Here's why the insurance companies are in fact afraid of the mandate provision: the penalty for non-compliance is 8% of individual earnings. That in most cases is far less than the employer's share of premium, which will incentivize employers to drop coverage wherever possible, forcing people into the "public option".
In addition, provisions in the current House bill would prevent private plans from adding new members (killing them slowly but surely) and disqualify participants from continuing in their plan if any element of the plan (such as premiums) changed from year to year - which is almost all of them.
That is precisely why Joe Wilson was 100% correct last night: Obama lied, private health care companies will die.
All the SEIU signs say “Take the Profit out of health care”. How’s that working for newspapers?