“Interstate competition or bust!”
What is keeping out interstate competitions? Where is the law that says that companies cannot sell insurance policies in any state they want?
This interstate competition canard is total crap. The reason the market is so fragmented is because of “states rights”.
You see each state has mandates on what insurance companies must cover, each has insurance commissions breathing down insurance companies neck. So the companies go where it makes the most sense to them.
A policy sold in Arizona, would probably not be legal in California.
So do we conservatives want to reduce state rights and let the federal government tell each state what it can allow to be sold?
Interstate competition is being opposed by the Democrats and they will filibuster to stop it. However, the Republicans can use the nuclear option and ram it through. It will have its consequences when the Republicans try to stop something the Democrats want and the filibuster option is no longer an option.
‘You see each state has mandates on what insurance companies must cover, each has insurance commissions breathing down insurance companies neck. So the companies go where it makes the most sense to them.’
I’m not formally educated on law and might need some educated correction but as I understand it:
Back to the commerce clause — if an out-of-state insurance company wants to offer a service for a price, the moment the federal government deregulates it then it is outside of state jurisdiction [if I’m not mistaken]. And for that matter, someone could enter a neighboring state and seek out-of-state service to bypass local restrictions [if it gets that absurd]. The federal government could go a long ways to help that along.