OK, from what I understand ObamaCare will result in the elimination of private health insurance plans, those currently issued by private insurers. What I don’t understand is why the insurance companies are allowing this to happen. The private insurance industry and the money it generates and invests is a MAJOR part of our economy, and insurance companies have always wielded vast political and economic power. It doesn’t seem like they put up, or are putting up, much of a fight against something which would seem to threaten their very existence. What am I missing here?
I'm guessing they'll be forced to pay such ruinously huge [fees, taxes, penalties, whatever newspeak term it will be called], that if they don't cave in to Obamacare the insurance companies will be bankrupted trying to fight it.