Health Insurance Mandates – Question

A number of states are suing to block the health care reform’s mandates, saying that the Federal Government isn’t allowed to override the states, and just order people to buy a product from private companies.
As I see it, they are arguing against federal pre-emption of state laws.
Question – If they lose, what happens to various insurance, banking, consumer and other state regulations where the state rules are more protective of consumers than the federal rules?
I suspect the Supreme Court is going to knock this down, so we’d all better get ahead of this and just pass Medicare-Buy-In. This undoes their arguments, but keeps health care reform intact.