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Fri Mar 1, 2019, 10:36 AM

Insurance Stocks Plunge as Medicare for All Bill Unveiled With Major Support

Support for Medicare for All is rapidly gaining momentum in Congress — and insurance investors are starting to get nervous.


Health insurance stocks tanked on Wednesday as Rep. Pramila Jayapal (D-Wash.) introduced comprehensive Medicare for All legislation with the backing of more than 100 House Democrats and major progressive organizations, including America’s largest nurses’ union and national consumer advocacy groups.


“The S&P 500 Managed Health Care Index plunged as much as 4.9 percent, the most since Dec. 6, led by UnitedHealth Group Inc., Humana Inc., and WellCare Health Plans Inc.,” Bloomberg reported after Jayapal unveiled her bill during an event on Capitol Hill. “Insurers UnitedHealth and Cigna Corp, which also own the country’s largest pharmacy benefit managers, were both down about four percent.”


more at https://truthout.org/articles/insurance-stocks-plunge-as-medicare-for-all-bill-unveiled-with-major-support/

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Reply Insurance Stocks Plunge as Medicare for All Bill Unveiled With Major Support (Original post)
pecosbob Mar 2019 OP
global1 Mar 2019 #1
pecosbob Mar 2019 #2
kennetha Mar 2019 #3
global1 Mar 2019 #6
kennetha Mar 2019 #10
spinbaby Mar 2019 #4
gratuitous Mar 2019 #7
kennetha Mar 2019 #11
gratuitous Mar 2019 #13
Sgent Mar 2019 #18
fescuerescue Mar 2019 #19
SoCalNative Mar 2019 #5
global1 Mar 2019 #8
pecosbob Mar 2019 #9
kennetha Mar 2019 #12
pecosbob Mar 2019 #14
kennetha Mar 2019 #15
pecosbob Mar 2019 #16
AwakeAtLast Mar 2019 #17

Response to pecosbob (Original post)

Fri Mar 1, 2019, 10:39 AM

1. And Wall Street Will Survive Medicare For All Just Like It Survived.....

the Affordable Care Act when it was being proposed and being voted on.

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Response to global1 (Reply #1)

Fri Mar 1, 2019, 10:43 AM

2. Yes, the market does seem rather adaptable in the long run does it not? Always has been in the past

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Response to global1 (Reply #1)

Fri Mar 1, 2019, 11:25 AM

3. The Affordable Care Act is a market based solution

that merely regulates private insurance, for the most part. In exchange, it was intended to make many more customers available to the industry through the individual mandate.

Medicare for All envisions ELIMINATING most private health insurance in one fell swoop, a hugely profitable sector of the economy, in which MANY individual and institutional investors are invested.

If you don't expect that will cause disruption in the economy, you are dreaming. Perhaps the disruption will be balanced out by other things ... the total cost of health coverage will go down. But there will be tons of losers as well as winners when these burdens are shifted and a new equilibrium reached.

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Response to kennetha (Reply #3)

Fri Mar 1, 2019, 12:11 PM

6. I'm On Medicare Right Now....

One needs to carry a secondary insurance to cover the costs Medicare doesn't pick up. That secondary insurance coverage is offered by private insurance companies. So there will always be a need for private health insurance. The benefit of MFA is that every American will by right have a basic level of healthcare coverage. Also more standardization in the administration of the plan in terms of standardized forms and less paperwork for providers.

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Response to global1 (Reply #6)

Fri Mar 1, 2019, 01:43 PM

10. Not in Sanders plan.

He makes that very explicit. The only room for private insurance will be to cover optional things, things like elective cosmetic surgery. "You want a nose job, you get private insurance."

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Response to pecosbob (Original post)

Fri Mar 1, 2019, 11:59 AM

4. Medicare supplement insurance has got to be profitable

They wouldn’t be advertising it so much if it weren’t highly profitable.

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Response to spinbaby (Reply #4)

Fri Mar 1, 2019, 12:12 PM

7. Indeed

And, even if we get access-for-all health care, there will ALWAYS be doctors and clinics willing to service wealthy patients on demand for a little extra. And insurance companies can make a lot of coin selling policies that allow people to jump the line.

Citizens who take reasonable steps to plan their health care and doctor visits will see their care providers in a timely fashion and be able to adapt to and navigate the system.

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Response to gratuitous (Reply #7)

Fri Mar 1, 2019, 01:45 PM

11. Under Sanders plan it will be illegal

for private insurance companies to offer coverage for ANY service covered under the government plan.

there would only be room for private insurers to cover things like cosmetic surgery NOT covered under the government plan.

That means that if the government plan offers comprehensive coverage, that would be the ONLY option.

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Response to kennetha (Reply #11)

Fri Mar 1, 2019, 02:06 PM

13. Good luck getting that passed

On a scale of things to worry about from 1 to 10, this would be a -3.

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Response to kennetha (Reply #11)

Fri Mar 1, 2019, 08:48 PM

18. There is no way that is constitutional

if a MS insurance company wants to contract with MS patients and MS doctors, I'm not sure this would pass constitutional muster -- and that was before the recent stacking of the court.

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Response to kennetha (Reply #11)

Fri Mar 1, 2019, 08:56 PM

19. That sounds fairly dystopian

Why bother making it illegal? It will either be worse than the government option, or will be better.

If it's worse, people won't use it. If it's better, then people will and it will save the tax payers money.

Outright banning free-enterprise seems like a Russian solution.

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Response to pecosbob (Original post)

Fri Mar 1, 2019, 12:07 PM

5. Good!

Nothing would make me happier than all of the health insurance companies going bankrupt.

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Response to SoCalNative (Reply #5)

Fri Mar 1, 2019, 12:16 PM

8. They Will Not Go Bankrupt....

They may need to size down but they will become more efficient in the process. Their efficiency will result in continued profit as they learn to deal with the new reality of MFA.

Anytime there is any change in status quo - people will overeact and think the worst. They will adjust and thrive as MFA becomes the new reality.

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Response to pecosbob (Original post)

Fri Mar 1, 2019, 12:59 PM

9. There's no need to 'eliminate' health-care insurers

the market will force those comanies to adapt.

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Response to pecosbob (Reply #9)

Fri Mar 1, 2019, 01:46 PM

12. But Sanders would eliminate them by fiat.

Because his plans make it ILLEGAL for any private insurer to cover services also covered by the government.

His plans also makes it ILLEGAL for employers to offer their employees such insurance.

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Response to kennetha (Reply #12)

Fri Mar 1, 2019, 02:42 PM

14. Sanders says a lot of dumb shit IMO

Not my favorite pol...way too obliging to the gun manufacturers.

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Response to pecosbob (Reply #14)

Fri Mar 1, 2019, 03:01 PM

15. totally agree

He is a intellectually and ideologically rigid demagogue, who has been signing the same tune for decades and decades, without ever adjusting to realities on the ground. It's a complete mystery to me why he is so popular with so many in our party. Following him on his Quixotic crusades for unattainable goals would be a complete disaster.

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Response to kennetha (Reply #15)

Fri Mar 1, 2019, 03:04 PM

16. That's not to say he doesn't say some things I agree with

He was one of the first public figures I can recall that called for a living wage and championed some worthy goals when he was a lone voice in a wilderness of silent Democratic figures. Dennis Kucinich said some some righteous stuff as well...doesn't mean that I would vote for for them though.

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Response to pecosbob (Original post)

Fri Mar 1, 2019, 08:41 PM

17. Sending thoughts and prayers!

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