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

#1

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

Jake Johnson, staff writer

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

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#2

And please… repeat the truth: insurance companies can continue to provide supplemental policies all day long. The rich corporations just don’t have a government MANDATE to profit off me.

How I wish that I had a Government mandate saying that everyone had to contribute to my profits! The basis of government programs, like New Deal Social Security, should always be shared responsibility - not concentrating wealth and trickle-down nonsense. Kansas is proof that concentrating wealth and trickle-down are just scams of, by and for the wealthy,

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#3

May the power of people suitably robbed and at risk of early death for themselves or their loved ones be sufficient to overcome the lying propaganda about the “greatest healthcare system the world has ever seen”. Such nonsense has no meaning if one cannot afford access to that system.

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#4

The very existence of “supplemental” policies implies a tiered system based on ability to pay. “Everybody in, nobody out” means quite the opposite. Let the for-profit behemoths die, and good riddance.

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#5

Watch out. The tanking of their stock means they must come up with ‘creative’ ways to ensure their share holders continue reaping maximum return. That could mean layoffs which will exacerbate already expensive and inefficient healthcare bureaucracy and/or skyrocketing premiums.

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#6

Yes. We have to pay supplemental policies for the current Medicare system because it does not pay for everything. There is no need for that type of coverage because M4ALL will cover everything with no out of pocket expenses.

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#7

Pardon me, but the drop cited in this article is hardly a plunge. And while we’re being realistic:

This bill has no actual funding mechanisms, just a vague all-of-the-above statement from its authors.
The vast majority of d-party Congresscritters favor watered down legislation, as usual.
The entire for-profit health care establishment is going to launch a gigantic opposition campaign.

So, if you planned, like me, to fight for improved MFA, be ready to double your efforts. This is war and it’s just begun. Call your mealy-mouthed, on-the-fence reps in a daily barrage, show up at town halls, tell them you’ll be looking at liberal alternatives in 2020 based on their cowardice.

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#8

You can only treat people with contempt for so long before they strike back.

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#9

I will NOT support the private insurance companies AT ALL. No thank U.

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#10

What Wall Street is telling “progressive” legislators is that “we know this is just an electoral strategy of yours - it’s just talk - but we don’t even like the talk. Quit it.”

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#11

MfA was a hot topic during the W administration if people will recall. But when Obama was elected, and the Dems held both Houses of Congress and the presidency, with a solid majority and mandate, then, it wasn’t “realistic”, it was “off-the-table”, “not gonna happen.” Again, Medicare for All is a hot topic among Dems vying for “progressive” bona fides like Jayapal, at a time when the most reactionary GOP in history is controlling the Senate and the WH with the Democrats only having a slim advantage in the House. In other words, Dems act “progressive” when their legislative proposals have no chance of becoming law. It’s a game folks and you’re being played - again.

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#12

Our wise leaders in the Democratic and Republican parties will fund MfA by drastically reducing the obscenely and massively over-funded, graft-filled, criminally corrupt and immoral military budget… not.

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#13

Excellent point: The sheer volume of lies, fraud, and malfeasance that the late stage predatory capital model demands, requires and CANNOT SURVIVE WITHOUT is among the leading causes of societal breakdown. Its fake wooden leg - the prison industrial complex - could do with some hack-saw activity directed in precisely same way: end the propaganda and the subsidies, tax advantages, loopholes and cheating for profit.

Matthew 16:26
For what will it profit a man if he gains the whole world and forfeits his soul? Or what shall a man give in return for his soul?

Are you listening Mike and “Mother” Pence? if youŕe not, you darn tootin outa be!

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#14

It’s almost like, when a politician looks at a structural problem that can’t be fixed my tinkering around the edges and proposes a structural change as a result, their advisers and the corrupt politicians that get all their money from interests that will be harmed by the structural changes rush in and ask, “What the hell, are you proposing an actual solution to a problem? Are you nuts? Throw them peanuts, prepare the talking points, get your friends in the media on board with the propaganda. My god, you a naïve rube or something?”

Per usual, while the Democratic Party is the best ally in the fight for single payer (between the two rotten parties), it is also its greatest enemy. It is the Democratic Party that will work overtime to make what is a good bill in need of some more work and tinkering into something far inferior. All of the other Democrats not on board are in favor of far inferior policies, and they will work to make this bill worse than it is.

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#15

Bernanke instituting his “quantatative easing” scam a decade ago was certain to result in overvalued stocks…and has. Ever increasing support for M4A is leading investors to reassess the value of their insurance stocks.

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#16

On the stocks; burn baby burn. We could imagine many things to profit off of that we shouldn’t. We could possibly profit off of slavery, this country once did and heavily relied on that, doesn’t mean we should. We could profit off of an energy source destroying the environment, doesn’t mean we should.

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#17

i hope some wall street jack off took a huge fucking hit !!

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#18

I agree that QE is now the new normal propping up the system and inflating value. However, by historic standards PE ratios are currently on the high end but not especially out of line:

#19

Johnson sez:
“Under Jayapal’s plan, the U.S. would transition to a Medicare for All system over a period of two years, and private insurance would be nearly eliminated.”

Little anecdote from my corner of Canada: I have a very much private “group health” insurance policy through my employer (with many of the attendant payroll deductions and co-pays you enjoy Stateside). However, along with the regrettable inclusion of dental and vision, its primary benefit to me as a cancer patient is limited to short- and medium-term disability payments to cover a portion of the wages I’m losing while undergoing treatment.

Since embarking on my treatment last June, however, my out-of-pocket cost for health care (including physicians fees, imaging, lab work, drugs and hospitalization) remains $0. Private insurance plays no role.

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#20

I have to wonder why medical insurance companies and healthcare/drug providers have not been investigated for racketeering and price fixing. Providers use astronomically high prices for services which are then discounted at ridiculously high rates (sometimes 99+% off) when the individual is covered by an insurance company that has signed up the provider. This forces people to get insurance to begin with, and probably also gives the providers a nice tax write off when an uninsured person can’t pay list price! This wasn’t always the case. There was a time when doctors made house visits, charged reasonable prices, employers didn’t provide health insurance, and hospitalization insurance like Blue Cross was so reasonable that people like my mother, an unemployed WWII widow living on little more than her VA pension, could afford it!

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