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It seems like President-elect Donald Trump intends to deliver on his vow to repeal Obamacare once he is in office. Earlier this week, Senator Mike Enzi (R-WY), Chairman of the Senate Budget Committee, introduced a resolution for the repeal of the Affordable Care Act, or ACA, popularly known as Obamacare. Chairman Enzi pointed out that even after six years of its enactment, Obamacare has failed with people facing huge premiums and mounting deductibles. With insurers withdrawing from markets across the country, many families are left with fewer choices and lower access to care.
Republicans have been in favor of repealing Obamacare with President-elect Trump often vowing during the election campaign that his first course of action, once elected, would be to ask Congress to repeal Obamacare immediately. In fact, Vice President-elect Mike Pence came out with a statement yesterday that repealing Obamacare is the "first order of business" for the new administration.
However, right now there is not much clarity on how Obamacare will be replaced. Repealing the act without any replacement would leave about 20 million Americans at risk where their coverage is concerned. Moreover, according to a report issued by the Committee for a Responsible Federal Budget, repealing Obamacare in its entirety would involve costs of about $350 billion over the next ten years under conventional scoring and $150 billion using dynamic scoring.
New York Governor Andrew M. Cuomo said that approximately 2.7 million New Yorkers would lose coverage if the Act is repealed with New York State expected to face a direct state budget impact of $3.7 billion and a loss of nearly $600 million of federal funding.
Meanwhile, a look at the post-election Kaiser Health Tracking Poll (Nov 2016) shows that Americans are divided on their views about the future of Obamacare with 26% wanting the law to be repealed and an additional 17% in favor of it being scaled back. On the other hand, 30% want the law to be expanded while 19% want the law to continue as it is.
Over the next few weeks, as the future of Obamacare is decided and the situation unfolds, companies like Molina Healthcare, Inc. (MOH - Free Report) , WellCare Health Plans, Inc. , Centene Corporation (CNC - Free Report) , Tenet Healthcare Corp. (THC - Free Report) and UnitedHealth Group Incorporated (UNH - Free Report) will remain in focus. WellCare Health and UnitedHealth Group are both Zacks Rank #2 (Buy) stocks -- you can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
You are welcome to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buy" stocks free of charge. There is no better place to start your own stock search. Plus you can access the full list of must-avoid Zacks Rank #5 "Strong Sells" and other private research. See the stocks free >>
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Is Obamacare on its Way Out?
It seems like President-elect Donald Trump intends to deliver on his vow to repeal Obamacare once he is in office. Earlier this week, Senator Mike Enzi (R-WY), Chairman of the Senate Budget Committee, introduced a resolution for the repeal of the Affordable Care Act, or ACA, popularly known as Obamacare. Chairman Enzi pointed out that even after six years of its enactment, Obamacare has failed with people facing huge premiums and mounting deductibles. With insurers withdrawing from markets across the country, many families are left with fewer choices and lower access to care.
Republicans have been in favor of repealing Obamacare with President-elect Trump often vowing during the election campaign that his first course of action, once elected, would be to ask Congress to repeal Obamacare immediately. In fact, Vice President-elect Mike Pence came out with a statement yesterday that repealing Obamacare is the "first order of business" for the new administration.
However, right now there is not much clarity on how Obamacare will be replaced. Repealing the act without any replacement would leave about 20 million Americans at risk where their coverage is concerned. Moreover, according to a report issued by the Committee for a Responsible Federal Budget, repealing Obamacare in its entirety would involve costs of about $350 billion over the next ten years under conventional scoring and $150 billion using dynamic scoring.
New York Governor Andrew M. Cuomo said that approximately 2.7 million New Yorkers would lose coverage if the Act is repealed with New York State expected to face a direct state budget impact of $3.7 billion and a loss of nearly $600 million of federal funding.
Meanwhile, a look at the post-election Kaiser Health Tracking Poll (Nov 2016) shows that Americans are divided on their views about the future of Obamacare with 26% wanting the law to be repealed and an additional 17% in favor of it being scaled back. On the other hand, 30% want the law to be expanded while 19% want the law to continue as it is.
Over the next few weeks, as the future of Obamacare is decided and the situation unfolds, companies like Molina Healthcare, Inc. (MOH - Free Report) , WellCare Health Plans, Inc. , Centene Corporation (CNC - Free Report) , Tenet Healthcare Corp. (THC - Free Report) and UnitedHealth Group Incorporated (UNH - Free Report) will remain in focus. WellCare Health and UnitedHealth Group are both Zacks Rank #2 (Buy) stocks -- you can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Medical - HMOs Industry 5YR % Return
Medical - HMOs Industry 5YR % Return
Where Do Zacks' Investment Ideas Come From?
You are welcome to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buy" stocks free of charge. There is no better place to start your own stock search. Plus you can access the full list of must-avoid Zacks Rank #5 "Strong Sells" and other private research. See the stocks free >>