The ACA brought exchanges...which improved consumer and competitive transparency. Free markets are 'a system in which the prices for goods and services are determined by the open market and consumers'. Seems business 101 to me.
Wrong.
From wiki (
https://en.wikipedia.org/wiki/Insurance_law): The scope of regulation extends beyond the prudential oversight of insurance companies and their capital adequacy, and include such matters as ensuring that the policy holder is protected against bad faith claims on the insurer's part, that premiums are not unduly high (or fixed), and that contracts and policies issued meet a minimum standard. A bad faith action may constitute several possibilities; the insurer denies a claim that seems valid in the contract or policy, the insurer refuses to pay out for an unreasonable amount of time, the insurer lays the burden of proof on the insured - often in the case where the claim is unprovable. Other issues of insurance law may arise when price fixing occurs between insurers, creating an unfair competitive environment for consumers. In some states there is review of increases...
But rates and premiums are set by insurance companies. And nowhere are they set by the state. Nowhere.
