Colorado Health Insurance

"If the public plan is opened to all employers as proposed by Senators Clinton and Edwards, at Medicare payment levels we estimate that about 131.2 million people would enroll in the public plan. The number of people with private health insurance would decline by 119.1 million people. This would be a two-thirds reduction in the number of people with private coverage (currently 170 million people). Here again, if the higher private payer levels are used,enrollment in private insurance would decline by only 12.5 million people."

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At the end of the day, private insurance will not survive competition from a Federally subsidized plan offered by the Federal Government.  At some point, premiums would be so high, that only the very rich would be able to afford private insurance, and it will not be profitable for private insurance companies to remain in the marketplace.