Tuesday, January 19, 2010

Health Ins. reform and the Senate seat in Massachusetts

I am still tracking the price of Healthcare stocks since December 4th when everyone learned that the Public Option for Healthcare insurance reform was dead. Since that time both United Healthcare and Wellpoint stock charts have soared. To be more precise, United Healthcare's stock has risen a whopping 29.5% and Wellpoint has gained 28.5%. I have said the best way to know if the healthcare legislation will be good for the average American or for the Heath Insurance companies was to follow the price of these stocks. As many can clearly see, the proposed legislation is good for the Health Insurance companies as they are getting about 30 Million new members to their ranks without much restriction on cost containment thanks to Republicans and Blue Dog Senators efforts like Sen. Ben Nelson of Nebraska's efforts to try to kill any meaningful legislation.

In the charts above, the answer is clear and you can't slap lipstick on this pig to make it look better. This may be why, at least in Massachusetts, the Democrats may lose the former Democratic seat held for 47 years by Ted Kennedy. He is turning in his grave over this mess.

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