America has only five major health insurance providers. With major mergers in the works, that number is likely to drop to three. This industry consolidation would have widespread effects, but its impact on Affordable Care Act consumer options is one of the most interesting.

All insurance providers are not available in all state exchanges. In some markets, customers only have one or two options.

Further consolidation would further limit choice, and industry analysts speculate that merger delays may be the result of federal regulations meant to preserve market diversity.

States like California and New York have promoted competition in state-wide health insurance, and the results are more provider options and lower customer premiums. In other state exchanges, reduced competition almost always results in higher premiums for the individual.

Health insurers are responding to new market forces introduced by Obamacare's sweeping changes, and there are regulations in place which are meant to cap runaway prices. But as the country's major providers try to maximize efficiency and profits, it's anybody's guess how consolidation will ripple through insurance markets.

Read full article at CBS News.