Unlike private sector businesses, the public is required by law to participate. The system will be financed by the public through payroll taxes, collected by the Department of Revenue. It will be administered by the Secretary of State who will be directly accountable to the Governor and the legislature. It is a government-controlled health care system. It is socialized medicine, no matter how you look at it.
Socialism is a regressive form of government.
Socialized medicine is a regressive form of health care system. The present system failed not because the free-market system failed. Insurers are exempt from antitrust laws, while self-employed physicians have to comply with restrictive antitrust laws. Physicians cannot legitimately negotiate with insurers on managed care issues. There are no effective incentives for patients to conserve on health care costs.