Obama and public plan

In Uncategorized on August 18, 2009 at 8:28 PM

Health-care stocks have been whipped around as Congress and the White House continue to hammer out health-care reform. Part of my job at MarketWatch, a digital arm of Dow Jones Newswires, is to keep tabs on managed care companies such as Cigna and UnitedHealth Group. I caught their first plummet after Nancy Pelosi called insurance companies “villains” and also saw the upward trend on Monday when Obama’s top health official said a public plan–government-run insurance–isn’t necessary for health-care reform over the weekend. Obama followed suit and also said health-care reform could happen without a public option. But late Tuesday, a top White House aide said Obama wants a government insurance option as part of the final health-care bill. Following the announcement late Tuesday afternoon, shares of Cigna, UnitedHealth and Aetna all took back earlier gains, dropping about 1%.

Watching these stocks has been like covering a tennis game. One of my colleagues  said it best: “It’s giving me a headache and now I really do need some health care.”


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