Shares of a company selling short-term health insurance plans took a hit Wednesday after a report that Congress members plan to look into the practice.
House Democrats, led by Congressman Frank Pallone, D-N.J., are aiming to launch an investigation into some of these companies, "which they say are misleading consumers and drawing them away from the more comprehensive but more expensive [Affordable Care Act] market," Politico health care reporter Alice Miranda Ollstein said in a tweet Wednesday.
TWEET
Health Insurance Innovations dropped sharply after the tweet. The Tampa, Florida-based company, which trades on the Nasdaq, offers life, critical illness, dental, and other insurance products. Shares dropped as much as 17 percent, but are still up more than 30 percent this year.
Other major health insurance companies UnitedHealth Group, Cigna and Humana were still trading higher after the news.
Health care has been divisive issue for both sides of the aisle — especially since the introduction of the Affordable Care Act in 2010. Some Republicans have since moved to repeal the Obama administration's signature healthcare law, while several Democratic presidential candidates are embracing an even more expansive "Medicare-for-all" insurance plan to cover every American.
via IFTTT
No comments:
Post a Comment