Yes it’s possible, and frankly that is a long term goal of Obamacare - make it so expensive and complicated for private insurance companies so they are unable to compete with government-run non-profit exchanges. That’s the path to single-payer. Below is a link with an example:
Thanks, could not find it on FR so just posted it in a separate FR thread here:
http://www.freerepublic.com/focus/f-news/3082150/posts