My liberal (not Liberal) daughter, who works in the insurance field, seems to think this is a bad idea. She thinks the insurance will go up with no restrictions.
My response (since I know next to nothing about the way it works)? At least the folks won’t be fined for not having it!
She is repeating what she hears around the office.
There are at least two condition, immediate term and longer. The rates may rise immediately to cover risk that can’t be evaluated with certainty. As time goes the rates can stabilize or trend down as the change or the perception of change clicks in.
The rates ultimately depend on the effectiveness of competition on costs. Unmentioned but certainly in the various bills are provisions for capping lawsuits and predatory lawyers.