Tuesday’s special election in Massachusetts immediately and dramatically reshaped the political landscape in Washington D.C, and it’s no longer clear whether the health care bill, which proposes to insure thirty million more Americans, will survive.
Rumors of the demise of health care reform caused insurance company stocks to rise on Wednesday. But weirdly, this year’s push for universal coverage might have been the best long-term growth opportunity for insurance companies. The New York Times reports that insurance companies are steadily losing customers as employers lay off workers and scale back or do away with health insurance coverage altogether. Universal coverage would have brought a significant infusion of new business.
Of course, that’s only true sans public option.