? asked in Business & FinanceInsurance · 1 decade ago

Public health care and health insurance companies?

Do you guys think private health insurance companies like UnitedHealth, Aetna will go down because of Obama's public health care option? I see a huge price dips in health insurance stocks and they just don't make sense to me. I have many reasons to justify this. First, if Obama takes over health insurance, there is no way that most of the private health insurance companies will crash, because if that happens, massive layoffs will happen, and the economy is going to go down again. What do you guys think about this?

4 Answers

Relevance
  • lucy
    Lv 7
    1 decade ago
    Favorite Answer

    http://thinkprogress.org/2009/08/28/wellpoint-atta...

    http://www.huffingtonpost.com/peter-dreier/wellpoi...

    http://economix.blogs.nytimes.com/2009/09/25/how-m...

    http://www.consumerwatchdog.org/patients/articles/...

    http://www.alternet.org/politics/143089

    http://goliath.ecnext.com/coms2/gi_0199-5403360/We...

    My concern is that one day all health care will be one company and control all health care costs and no one will have a say since there will be no competition out there.

    The articles above are specific about WellPoint that is buying out several other companies and that they are reducing benefits to the employees, suing the state of Maine for a guarantee profit of 3% next year by increasing premium to the policyholders by 18%. The list goes on and on.

    Hey and I would not be surprised that even if by some chance they could go bankrupt in the future, our government will step in and give them a bailout just like the banks and the auto companies with no restrictions and they will still deny claims and the CEOs' will get richer.

    Maybe I am a little bit cynical since unless we get a single payer system or universal health care, nothing is going to change even with the health care reform that they are trying to get thu.

    As for the stock prices, this must have been a bad quarter, so they will just have to cut more sick insureds or pay less claims so that they can satisfy wall street. Read the articles on Wendell Potter who is now the whistle-blower out there on the health care industry and he goes into details how wall street and insurance companies dictate stock prices.

  • Rudy
    Lv 6
    1 decade ago

    NO - All you have to do is look at the country's that have government health systems like England, France, and Canada. They all have private insurance companies and people that can use them because the public system sucks, due to poor guilty and long waits.

  • 1 decade ago

    Government health care will never take effect. Its unconstitutional. Several US states are already acting on ways to nullify whatever gets passed. Florida, Georgia and Arizona to be an example

  • 1 decade ago

    It's not in the cards. And, now would've been the best chance it ever (hopefully) would have had. I think when the dust settles the word 'never' would be reasonable.

Still have questions? Get your answers by asking now.