Jonathan Cohn writes:
If insurers can sell policies across state lines, they will search out–and then converge upon–whichever state or states have the least stringent regulations. It will be exactly like the way the credit industry evolved.
The problem is that a lot of those regulations are there for a reason. They mandate screening for cancer, coverage of mental health or prescription drugs, payment for emergency services, and so on.
It’s fair to question the necessity of a few; a lot of people would question a mandate for in vitro fertilization, which a few states have. But the vast majority of the regulations are for services that most people value highly. (And rightly so.)
Those regulations would effectively become moot if McCain had his way.
If people value these benefits as much as they’re worth, wouldn’t insurers competing for business offer them?