The sell-off in the S&P 500 Managed Care Index began in late February when some congressional Democrats began voicing support for “Medicare for All” proposals. It continued this week as the Department of Justice said it supports a judge’s ruling that the entire Affordable Care Act should be invalidated.
The 10 percent sell-off in managed care is “clearly political,” Jeff Jonas, a portfolio manager at Gabelli Funds, told Bloomberg. Although “Medicare for All” is a top topic among Democratic presidential hopefuls, proposals to replace private health plans with a government insurance option are still vague. The uncertainty may drive investors away from managed care stocks. “There’s probably a lot of investors who just don’t want to deal with that,” Mr. Jonas told Bloomberg.
Access the full Bloomberg article here.
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