Deany as Trasael said - not illegal but Independent Midwives will have to change how they practice if they wish to continue. 'Higher risk' birthing women will have to accept full responsibility for their birthing decision if they birth at home (kind of like freebirthing with a birth attendant as some women are already doing). But that's not really all that different to the current situation with the lack of insurance. I think most IMs have you sign a waver stating that you understand they are not covered. It may also be harder for them to continue with you (in a professional capacity as a midwife) if you need transfer in.
Kymmy - isn't it so beautiful when you first feel your baby move . Each wriggle still makes me smile inside.