The government doesn’t have to do anything to the industry, except maybe draft some supportive legislation that allows them to offer niche products, etc. There are people who pay for private insurance in every single country that offers single payer…there’s no reason to think that it would be any different in the States.
But I agree with you, that their business would shrink, especially in the beginning until a new normal was reached.
Wheelwrights and coopers were not entirely happy about progress either.
