Labor unions have been supporters of minimum wage laws in countries around the world, since these laws price non-union workers out of jobs.
Countries with minimum wage laws almost invariably have higher rates of unemployment than countries without minimum wage laws.
The fundamental issue is not wage rates, but productivity. If a worker desires a higher wage, he must produce more in a given period of time.
To the extent that the government simply “caps” premiums it will result in no insurance at all as it makes for an unprofitable bet for any insurance company.