But with more room for fraud, and no protections for pre-existing conditions?

I'll take "deregulation" for $500 Bob.

Sounds like Paul Ryan's "premium support" scheme for Medicare: the government sends a voucher to people to be applied toward the premiums from a private insurance company. None of that "intrusive, burdensome, big gummit regulation", like a 20% cap on insurance company overhead, or non-discrimination regarding pre-existing conditions, no requirement they actually pay legitimate claims.

But, a lot of people would opt out. I doubt insurance companies would go for it, preferring to take the guaranteed profit from the current system, vs gambling they would be able to gouge those who participate in the program enough to offset the people who drop insurance. If nothing else, forcing the "JCs" to come in off the golf course, and rework their business model to exploit the new system, after already doing that a dozen years ago to exploit the ACA would be a "burden". That's too much like work!

Steve