What would happen to health insurance companies if government take over the health insurance system?

Correct me if I'm wrong, but I heard that Obama is trying to push a public health system that will allow everybody to have health insurance no matter what pre existing conditions he or she may have.
If this is reached, what would happen to insurance carriers like Blue Cross, Blue Shield? Will we need these companies and health insurance agents?
Asked Jun 29, 2012
The Affordable Care Act A.K.A "ObamaCare" was passed into law in 2010 and was upheld by the Supreme Court this week. When the law goes into full effect in 2014 the rules for insurance carriers will change considerably but they will still provide your healthcare insurance, not the government. You will still need a company.
Answered Jun 29, 2012
They would definitely shrink, but they would still be around. Look at Medicare, they have supplement polices which the individual has to pay. If you think the government is going to pay for Heart surgery, Cancer treatment, you're in for a rude awakening.
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Answered Jul 14, 2012
Edited Jul 14, 2012
I agree that insurance will suffer. Investors know how to "follow the money." On the day the Supreme Court ruled "Obamacare" constitutional, health care PROVIDERS stock went up six to ten percent and healthcare INSURERS went down six to ten percent. That's a good indicator of where prices and profits are headed.
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