Private insurance will be squashed. They will be forced to raise premiums, thereby driving out participants and shrinking the pool, which will further increase rates.
The only thing that makes private insurance even a remotely feasible enterprise is the spread of risk. If the gov’t taxes 8% on payrolls that don’t use Obama-care, they will certainly drop private coverage, leading to the above scenario.
Then we’re really eff’d. Instead of some people getting little or no healthcare, we’ll ALL be getting little or no healthcare.
needless to say we will have a lot of people refusing to pay the thousand dollar fines for not having health insurance to the IRS. Then the FBI will get involved, and that will signal the first shots across the bow for many independent business owners.