1.)Look for insurance companies to start marketing a new accident/emergency medical policy to cover those individuals who opt out of mandated coverage and pay the fine instead. The plan will provide gap coverage for accidents and initial expenses incurred for illness until full coverage can be obtained with no pre-existing condition limitation after a medical condition is diagnosed. The plan will probably have a fairly low maximum of $25,000 or so. It will probably be available on a group basis as well. The premium for this type of coverage plus the fine will pale in comparison to current coverage.
2.) The number of uninsureds will double to 60,000,000 as individuals and employers will drop existing plans and elect to pay the fines instead. Employers have never wanted to provide coverage and what better time than now to drop it. The employer fine will be way cheaper and with unemployment this high there is no need to offer perks to get good employees.
3.) The influx of uninsurables getting coverage without the offset of healthy individuals participation will be catastrophic for insurance companies forcing many to exit the market. Hello Uncle Sam Mutual.
To quote another poster "we live in Cuba now"