So what's that going to be like? Megan McArdle looks at the issue, with sobriety. Her conclusion:
Overall, I think that this is a real potential threat to the future of the insurance market. But as yet, it is only a highly speculative threat. We'll know more as the risk-adjustment programs begin to expire, insurers get more experience in setting rates, and states begin to publish more data on what insurers plan to charge.