In theory. But the invisible hand of the free market seems to be imaginary rather than invisible.

In reality, the insurance companies will all just pocket the difference. They'll then use their increased profits to pay out higher dividends or to finance a stock buyback. If it's a privately owned company, the profits will be distributed to an even smaller number of people.

But despite disagreement over the consequences, we do at least agree that it doesn't matter whether California is going to be lowering the cost for insurers.

And I'm always happy to be proven wrong about things that I'm pessimistic about. If you have strong evidence that there's a large health insurance provider that will cut premiums across the entire country from cost savings I genuinely want to see it.