Insurance Giants See Stocks Soar on Launch of Obamacare
Forcing the whole nation to buy health insurance turns out to be quite profitable
Paul Joseph Watson
October 1, 2013
It turns out that forcing the whole nation to buy health insurance is quite profitable for the giant health insurance companies that helped write Obamacare – health insurance providers across the board saw their stock prices soar today.
On the first day that new insurance exchanges were made available to Americans, companies like WellPoint Inc. and Molina Healthcare Inc. saw their stocks gain over 2.5%.
It’s unsurprising that large health insurance companies are enjoying the fruits of mandatory Obamacare regulations, since they helped write them in the first place.
WellPoint’s performance today will surely be celebrated by its former Vice President Liz Fowler, who wrote the 87-page white paper that was the foundation of Obamacare. After it was passed, Senator Max Baucus profusely thanked Fowler for being personally responsible for crafting the Affordable Health Care Act. Politico described her as a “major player” in getting the bill through Congress.
WellPoint Inc. is the nation’s second largest health insurer and is responsible for operating Blue Cross Blue Shield licenses.