HMO stocks sink after report boosts reform bill

[Cant trust em]

Source: Reuters

NEW YORK, Oct 8 (Reuters) - Shares of large health insurers slumped on Thursday as a budget report issued on a key U.S. Senate healthcare reform bill fueled investor worries that a health overhaul would gain approval.

Nonpartisan budget analysts said late on Wednesday that a Senate Finance Committee health plan would cost $829 billion and cut the budget deficit by $81 billion over 10 years. The bill would meet President Barack Obama's desire for a healthcare plan that does not increase the deficit, according to the Congressional Budget Office.

Shares of WellPoint Inc (WLP.N) fell more than 7 percent, while UnitedHealth Group Inc (UNH.N), Aetna Inc (AET.N) and Humana (HUM.N) dropped more than 4.5 percent, bucking a positive overall market.

The determination of the finance committee bill's impact on the deficit was seen as a "big stumbling block" for drawing support for the legislation, said Avik Roy, healthcare analyst with Monness, Crespi, Hardt & Co.



Read more: http://www.reuters.com/article/companyNews/idUSN0852545620091008

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I've never been happier to see stocks fall.

[BlooInBloo]

1. Doesn't matter. On DU, it's bad news. Somehow.

[Cant trust em]

2. No one else has posted on this either.

The only things worth talking about are outrageous controversy.

[BlooInBloo]

5. There we go. It only took 4 posts to find out why this, too, is bad news...

It really IS like "Name That Tune", on DU.

[Cant trust em]

7. I'm starting to wonder what my place is in the DUniverse

I'm trying to not be a cheerleader, but it seems like the other option is to be a constant naysayer. It doesn't feel like this board is conducive to my mindset anymore. It was a lot more fun being on the aggrieved left during the Bush years.

[BlooInBloo]

10. Heh. Don't stress about it. Make your own place, do what you think is best.

[Ruby the Liberal]

3. This makes me happy!

:D

[valerief]

4. So this means they'll charge even more for premiums than projected and

we'll still get no Medicare option.

[Wizard777]

6. Look at all the preexisting conditions they just discovered. Like breathing. Here come the rescissio...

Those evil bastards are gonna make a buck and they don't care how many people they have to kill to do it.

[inna]

8. but it's a horrible bill. It makes no sense whatsoever that stocks fell,

after all the Baucus bill was written by a Wellpoint operative. :shrug:

[Cant trust em]

9. That Wellpoint operative should be fired then.

He wrote a bill that made their profits drop.

[NYC Democrat]

11. well apparently even a horrible bill is just to much for the poor little HMOs.

[BlooInBloo]

I agree it's hard to understand if the only thing that exists in your world is the Baucus bill...

Thankfully other people have a somewhat wider view of reality.

[inna]

22. yeah right. the Baucus bill is the only thing that exists in my world.

what a thoroughly ridiculous comment, BooInBlue, you've outdone yourself on this one.

[xchrom]

12. how dreadful.

hmmm -- not so much.

[Soylent Brice]

13. the first transport is away...

*rebels cheer*

[Robb]

18. Geeky, but spot on.

:toast:

[Soylent Brice]

20. i tried for an hour to find the pic, to no avail.

grrrrr... :grr:

and thank you. i triy to express my inner nerd when it's suitable.

[thelordofhell]

14. Looks like the stock market loss is a pre-existing condition

I hope the health insurance companies bought some stock loss insurance.

[avaistheone1]

15. lol

[CountAllVotes]

16. HMOs tend to really suck

especially one in particular comes to mind known at HealthNet or HellNet as my doctor's office calls it!

I hope all of these HMOs go freakin' broke!

Bunch of damned crooks!

:kick:

[defendandprotect]

17. k

[harun]

19. This is what I have been waiting for, the change train is coming and hopefully

it runs their asses over for good.

[Lucky Luciano]

21. When it comes to healthcare reform, the only barometer I use

to know how we are doing is the price movements in the deathcare stocks such as WLP, HUM, HNT, CVH, AET, CI, WCG. When they get creamed on a solid up day for the overall market like today, then that is good for America.

[FreakinDJ]

23. That is why I dumped my shares in Healthcare Funds 3 months ago

People here at DU questioned it then