It works for auto insurance. In the 1980s, when it was under discussion, the argument was that Alaska (as an example) had such high costs for repairs and the winter conditions meant we used insurance so much more frequently that there could never be a private auto insurance where by private insurance companies were able to sell insurance across state lines. There was a huge furor about it and then it was opened up across state lines and the system works. Alaskans pay slightly more than the national average for, say, GEICO, and get comparable service based upon Alaska's reimbursement laws and the statistics for the state and ... viola ... everybody is covered at an affordable rate.

Those who refuse to learn from history ....