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Insurance Stocks Soar on News of Lieberman’s Obstructionism

Jon Walker

The Wall Street Journal is reporting
that health insurance stocks are up dramatically today after Joe
Lieberman's threat to filibuster health care reform. Lieberman has a
new-found strong opposition to the Medicare buy-in proposal-a massive
flip-flop from his earlier support.

Wells Fargo Securities analyst Matthew
Perry said Lieberman's comments are good news for managed-care stocks
as anything that delays health-care reform is a positive for the group.

"Every time the reform seems less likely that it will happen, the
entire group trades higher," said Perry, who has advised his clients to
buy shares of Wellcare Health Plans Inc. (WCG), recently up 1.3% to
$36.74, and Humana Inc. (HUM), up 1% to $42.26.

Among the other recent gainers in the sector, Aetna rose 2.7% to
$32.65, Cigna Corp. (CI) added 2.3% to $36.41 and Well Point Inc. (WLP)
gained 2.7% to $58.07. Meanwhile, UnitedHealth Group Inc. (UNH) added
1.6% to $30.99.

Joe Lieberman is the rain man for big health insurance companies.
Every time he tries to bring down real reform with his nonsensical
attacks on the public option or the Medicare buy-in, the stocks of
health insurance corporations jump.

Senate Democrats need to understand their support for Joe Lieberman
is support for the health insurance industries. Every time they give in
to his ridiculous demands, they are giving in to the demands of the
health insurance lobbyists. Joe Lieberman and his support of the health
insurance companies will be a fifty ton weight that will drown the
Democratic party. It is well past time to cut him loose before the
party is ruined by its endless appeasement of a man who is fighting
against the goals of the party.

Should 'Reconciliation' be the way forward?  Read here.

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