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Associated Press
Managed care stocks rise as health reform stumbles
By TOM MURPHY , 06.18.09, 03:35 PM EDT
INDIANAPOLIS --
Managed care stocks surged Thursday ...
Associated Press
Managed care stocks rise as health reform stumbles
By TOM MURPHY , 06.18.09, 03:35 PM EDT
INDIANAPOLIS --
Managed care stocks surged Thursday as the health care reform push wobbled in Washington.
Investors have worried for weeks about the possibility of a government payer being created to compete with private health insurers. Many Democrats, including President Barack Obama, strongly support that option as part of a plan to provide coverage for nearly 50 million uninsured people.
But Republicans and businesses groups have argued that it would lead to unfair competition by matching private insurers against a government plan that didn't have to make a profit.
The Democrats' push suffered setbacks this week, as committees working on bills fell behind schedule. The nonpartisan Congressional Budget Office also said a proposal from the Senate Health, Education, Labor and Pensions Committee would cost about $1 trillion over 10 years but still leave 37 million people uninsured.
"We are convinced more than ever that any significantly market-changing legislation stands little to no chance of passage," BMO Capital Markets analyst Dave Shove said in a note to investors. "It appears highly unlikely that any bill will come out of the Senate or the House until after August recess.
"This greatly dims the chances of passing a reform bill in 2009 - or maybe in this administration."
Edward Jones analyst Steve Shubitz noted that the entire health care sector rose in trading Thursday. But he added that managed care stocks are particularly volatile.
"These stocks kind of trade on emotion," he said in an interview. "It's like people now on the margin are saying, 'Maybe there won't be a public plan or maybe ... it will be so watered down that it will take a lot of years before it really impacts the private insurance companies.'"
Several health insurance stocks outpaced the overall market. The Standard & Poor's 500 index was up 1 percent in Thursday afternoon trading.
Shares of Coventry Health Care Inc. were up more than 9 percent, or $1.61, to $18.37; Humana Inc. shares were up more than 7 percent or $2.11 to $30.45; Cigna Corp. shares also climbed 7 percent, or $1.64, to $23.48.
WellPoint Inc., UnitedHealth Group Inc. and Aetna Inc. all saw their share prices rise 4 percent or more.
BUSINESS AS USUAL
Where is the forum idiot?? He's been very quiet lately
We will not have any kind of major overhaul in our health care system within the next 8 years. As soon as Obama announced 3 weeks ago that "we must pass health care legislation now" everything fell apart instantly. Obama's support vaporized.
------------------------------------ Health Insurance Agents: Training, Support, Discounts, E&O for $440 www.ihiaa.com
Define NOTHING. A lot already has.
All politicians are betting on something happening. They just haven't defined what will happen yet.
They will do something so they can say they completed health care reform. It might not be anything more than through a few billion towards a way to insure the uninsured, but something will happen.
My guess..... they will require a universal coverage be made available for those who currently cannot subscribe to an IFP plan on their own. Those with high cholesteral, high blood pressure, 2 heart attacks, and a big mac for lunch will 'finally' be able to get coverage.
Nobody will discuss rates. Rates will be subsidized. Carriers will offer this in exchange for ?????
Not a terrible solution at the end of the day.
Obama has bet his presidency on this and unemployment not exceeding 8%. He already missed the second part (though it was Bush's fault). He has to have something to hold up as a success for healthcare. If not, he will be another Jimmy Carter, with a better teleprompter.
When the "reform" happens, health agents and John's association will be things of the past.
I have already registered ILIAA.org - Indy Life Insuranc Agents' Assocation. I plan on recruiting everyone who is a member of Chump's assocation. If I just get 20%, I'll have 8,000 members at $19.95 per month.
Rick
------------------------------------ ILIAA
Training, Community, Support, and Success Independent Life Insurance Agents Assn rick@iliaa.org
Good luck Rick. Although my members don't pay dues, if they join another association, I get a Golden Parachute of $2500 from each member. And I will make them pay!
Good luck Rick. Although my members don't pay dues, if they join another association, I get a Golden Parachute of $2500 from each member. And I will make them pay!
MOST members don't pay dues; I read the 1 point print and opted in for the penny a month dues which exempts me from the Golden Parachute clause. That's insurance folks! Pennies in the cup to avoid dollars in the parachute!
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...she appears to be a most defenceless animal; and even when those weapons are shewn and extended for her defence, they appear weak and contemptible; but their wounds however small, are decisive and fatal:—Conscious of this, she never wounds till she has generously given notice, even to her enemy, and cautioned him against the danger of treading on her.—Was I wrong, Sir, in thinking this a strong picture of the temper and conduct of America? -- Benjamin Franklin
Guaranteed issue is coming and that is reform. Single payer is not coming so if that is how one has defined reform then there is no reform. "Universal coverage" and "mandate" are wobbly terms. There will be so many carrots and sticks to get people on board that one will be able to argue that there is universal coverage and a mandate. However, if one's goal is to be right about there not being hard requirements that everyone join then there will be room for that too because technically it will be true.
The government will create a system of creditable plans that must include certain elements in order to be eligible for tax credits or subsidy. One of those elements will be guaranteed issue. You will be "free" to go to another plan but will not get the subsidy/or credit, although in theory you still have choice. So, in theory there will be room to argue that even guaranteed issue is not mandated except that you will be punished for not going with a GI plan. The republicans will swallow hard and go for this because it gives them the victory of keeping it in the private sector. The dems will be able to declare some victories as well and leave room to talk about future phases.
------------------------------------ The Bolsheviks are dining in the capital.
Guaranteed issue is coming and that is reform. Single payer is not coming so if that is how one has defined reform then there is no reform. "Universal coverage" and "mandate" are wobbly terms. There will be so many carrots and sticks to get people on board that one will be able to argue that there is universal coverage and a mandate. However, if one's goal is to be right about there not being hard requirements that everyone join then there will be room for that too because technically it will be true.
The government will create a system of creditable plans that must include certain elements in order to be eligible for tax credits or subsidy. One of those elements will be guaranteed issue. You will be "free" to go to another plan but will not get the subsidy/or credit, although in theory you still have choice. So, in theory there will be room to argue that even guaranteed issue is not mandated except that you will be punished for not going with a GI plan. The republicans will swallow hard and go for this because it gives them the victory of keeping it in the private sector. The dems will be able to declare some victories as well and leave room to talk about future phases.
Correct and well worded.
I am actually thinking there will be SOME non GI products, but who in their right mind would buy them?
Guaranteed issue is fine - there will be a surge in business for us all. The single payer is pie in the sky. We can't afford it and from all accounts it sound like the proposal reform still leaves millions without insurance. Why would anyone want that?
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A.M. Hyers
Hyers and Associates, Inc.
This healthcare reform debate is quickly becoming an exercise in futility. Obama spent alot of political capital on the stimulus package, which is now becoming painifully obvious.
Yet, based upon the talk coming from the White House, solution is to still push through another huge program we can't possibly afford? Meanwhile, the Medicare & Medicaid are already on the verge of insolvency and there has been little or no conversation on addressing those issues.
Guaranteed issue is fine - there will be a surge in business for us all. The single payer is pie in the sky. We can't afford it and from all accounts it sound like the proposal reform still leaves millions without insurance. Why would anyone want that?
We are in agreement. I'm expecting a continued surge in business and positive thinking people such as yourself will do very well.
Keep up the good work, and I may put you on the list of agents that will be allowed to take advantage of the secret plans.
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A Conservative Government is an organized hypocrisy.
there will be SOME non GI products, but who in their right mind would buy them
Those who don't want to support the unhealthy crowd.
We already have a two+ tier system for individual major med in almost every state. No reason that cannot continue with GI running beside medically underwritten products.
Health Reform R.I.P.
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