(Bloomberg) — Health insurers that waged a campaign against Obamacare hit an all-time high on the stock market Wednesday after UnitedHealth Group Inc. said it would add hundreds of thousands of new customers because of the law.
The Standard & Poor's 500 Managed Health Care Index — which includes the five biggest U.S. insurers — closed at 1,031.18, the highest level since at least 1994. Health insurers have said that the Affordable Care Act has cost them billions in taxes and fees — including $1 billion in 2014 for UnitedHealth — and burdened them with new regulations.
The Affordable Care Act requires all Americans to have health insurance. To do so, it created marketplaces for people to buy coverage, often with subsidies, and expanded Medicaid, the joint federal-state program for the poor.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
