Health Insurers Sink as `Medicare for All' Idea Gains Traction
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Health insurers are leading declines among health-care stocks as investors turned their focus to Democrats’ new “Medicare for all” bill that would replace almost all private plans and assessed the implications of a Senate hearing on surging drug prices.
The S&P 500 Managed Health Care Index plunged as much as 4.9 percent, the most since Dec. 6, led by UnitedHealth Group Inc., Humana Inc. and WellCare Health Plans Inc. The broader health sector index fell 0.8 percent.