Since state laws are what stand in the way of out-of-state insurers selling health insurance in a state's market, a state can rescind those restrictions at any time. A few are in the process of testing that out. Like Georgia, which will now license insurers from any state and allow their plans to be sold in its market, even if those plans don't comply with the consumer protections in Georgia law.
It's only been a few months but so far there aren't any takers.
No out-of-state insurers offer plans in Georgia | The Atlanta Journal-Constitution
The standard thought process from the "dumbfounded" folks seems to be 1) maybe it's Obama's fault, and 2) maybe Georgia didn't deregulate enough.
My own suspicion is that the larger concerns are that 1) the individual health insurance market is small (~5% of the U.S. population and the same percentage of Georgia's population) and 2) building adequate provider networks (with reasonable reimbursements) is going to be challenging in a state you're not in, particularly when you have no customers to offer.
But it's early.
It's only been a few months but so far there aren't any takers.
No out-of-state insurers offer plans in Georgia | The Atlanta Journal-Constitution
A new law that allows Georgians to buy health insurance plans approved by other states was envisioned as free-market solution that would lower prices and increase choices.
So far, the law has failed to produce results: Not a single insurer is offering a policy under the new law.
“Nobody has even asked to be approved to sell across state lines,” Georgia Insurance Commissioner Ralph Hudgens said. “We’re dumbfounded. We are absolutely dumbfounded.”
Many conservative policymakers say a more open insurance market free from individual state regulations could add competition to the private market for health plans, used mostly by people who can’t get insurance at work. But the experience so far in Georgia has some wondering whether the concept is the answer after all.
Hudgens, a conservative Republican who strongly supports free-market ideas, said he expected policies sold in states such as Alabama, which have fewer requirements for health plans, to be offered in Georgia after enactment of the law.
“I’m really surprised because it was such a bumper sticker issue by Republicans saying if we could get across state line selling, we could reduce the cost of health care,” he said.
The standard thought process from the "dumbfounded" folks seems to be 1) maybe it's Obama's fault, and 2) maybe Georgia didn't deregulate enough.
My own suspicion is that the larger concerns are that 1) the individual health insurance market is small (~5% of the U.S. population and the same percentage of Georgia's population) and 2) building adequate provider networks (with reasonable reimbursements) is going to be challenging in a state you're not in, particularly when you have no customers to offer.
But it's early.