UnitedHealth's stock suffering biggest 2-day selloff in 10 years in wake of Sanders' health plan
April 13, 2019 at 6:49 AM - Views: 37 #53697eridaniParticipant
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Shares of UnitedHealth Group Inc. UNH, +0.35% tumbled 5.3% in afternoon trade Friday, to extend its selloff to a one-year low, in the wake of Senator Bernie Sanders’s unveiling of his “Medicare-for-all” plan. The health insurer’s stock sank 4.3% on Thursday, to bring the combined 2-day loss to 9.4%, the biggest two-day tumble since plunged 9.4% over the 2 days ending March 3, 2009. Sanders’s plan would create a single-payer health care system to replace the current job-based and individual private health insurance system. Raymond James analyst Chris Meekins said the largest impact by far would be on health insurers. The health care sector was the only one of the S&P 500’s SPX, +0.66% 11 sectors that was declining Friday. The SPDR Health Care Select Sector ETF XLV, -0.92% shed 0.9%, while the S&P 500 climbed 0.5%.
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April 13, 2019 at 11:28 AM #53715djean111Participant
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I remember that one of the reasons given by what were most certainly nuclear power company shills, at SV, for negative posts about nuclear power, was “don’t you care about all the teachers and nurses whose pensions are invested in the nuclear power industry”. This is such a big driver of the lashing out at Medicare For All and green energy – stock portfolios. Simple and greedy and inhumane as that. And as if that money could not be invested elsewhere.
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April 13, 2019 at 12:57 PM #53729jwirrParticipant
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The impact on doctors, nurses and heath care workers who actually are the ones doing the hands on work would be small. Them we need. Not so much insurance companies, paper pushers who deal with eligibility for various programs ( I used to work in this field) and investors.
April 13, 2019 at 12:59 PM #53730NV WinoModerator
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You can bet the executives aren’t suffering from this. They’re busy folding their golden parachutes.
April 13, 2019 at 4:13 PM #53790PunxsutawneyModerator
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So Wall Street is pricing in a decent chance of success, Good! 😁
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April 13, 2019 at 5:06 PM #53810Two way streetParticipant
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Republicans and corporations are trying to blame Sanders’ Senate Bill, when the AG of Texas brought a law suit against the federal subsidies of ACA. In late December 2018 after enrollment had ended for 2019, a Texas Conservative District Judge ruled that the ACA subsidies from the U.S. Treasury, cease as of Jan. 1, 2020. That means that millions of low income people using the tax subsidy to pay the ACA Market Plan premiums or part of the monthly premium, will have to drop their 2020 insurance coverage through the Affordable Care Act as patients were screwed out of access in that Texas court of law .
That court of law decision and Bernie’s new Medicare for All is why UnitedHealth stock is suffering. Trump promised his base that he would end ACA and Republicans are really in a fix now. No wonder DINO Primary candidates have jumped on the Bernie’s Senate Bill. They will all jump off again when Pelosi and Schumer set up the second ACA-like healthcare plan for corporate New Democrats to run with.
2020-2024 Campaign Season: We the People are in the fight for our lives and livelihoods.
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