Here's the problems with this plan.

No information about co-pays or co-insurance.
Nothing substantive about how much the working poor will have to contribute to their insurance premiums.
Nothing about how to reel in pharma costs.
No plan for helping people with health insurance, who can't afford the co-pays.
Equating people's health insurance with car insurance is just insulting to people.
Enforcement - How do you enforce the health insurance requirement?
This plan fails to realize the underpinnings of the uninsured.
Nothing about how the rules will be enforced upon insurance companies.
No mandate of what percentage of premuim payments must be spent on health care.
This plan only addresses the uninsured due to pre-existing condtitions and the uninsured due to poverty, but the assurances to the working poor that they will be able to "buy" coverage are anemic. The third category of the uninsured are the young, healthy individuals thinking they can beat fate. I suppose the threat of enforcement is something, but if you are single and healthy with no dependents - what will be a viable threat? Money?

Obama is optimistic that this plan will work. The face of it looks ok, but the devil is in the details.

Link