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  • Is The Affordable Care Act Really Affordable? 0 comments
    Oct 29, 2013 11:36 AM | about stocks: UNH

    One of the most controversial topics in the United States is the debate over the Affordable Care Act. Everyone knows about the technology problems with the Affordable Care website, but that is just a small issue in the bigger scheme of things. The real problem is coming from people who are actually losing their current health care coverage. Hundreds of thousands of health care policies have been canceled because these insured people do not carry the coverage that the government requires. When many of the people do try and get the required coverage they find out that the premiums have increased dramatically. Recently, a woman in Florida was dropped from her heath care provider for not carrying adequate coverage. When she went to shop for a new health care plan she found that her premiums jumped from $54 a month to $591 a month. There are similar scenarios happening all over the United States.

    Everyone knows that President Obama promised that if you like the plan that you already have you can keep it. This video clip from President Obama's statement has been blasted all over every television set in the U.S. over the past week. Today, there is a report that President Obama knew three years ago that most Americans would not be able to keep their own insurance policies. Now we know why most Americans do not trust politicians.

    Now that the government is in the health care business many people that never had any heath care coverage will have it, which should be a good thing. On the flip side, many of the people that have had health care coverage will no longer be able to afford it, this is not a good thing. These people will either have to pay a penalty and not have any coverage or they will have to struggle to pay for the required coverage mandated by the government. Again, one group of people are being hurt while another group benefits greatly. This is why the country remains so divided.

    The health care insurance providers seem to be the one group that should ultimately benefit. After the dust settles there should ultimately be more customers for them to insure. At least that was how the market figured it. Recently, leading health care insurers have been coming under some distribution. Leading health care stock UnitedHealth Group Inc (NYSE:UNH) has declined by lower by nearly $10.00 over the past month. Is it possible that so many insured people are going to just opt out of the government's health care plan? UNH stock will have important daily chart support around the $60.00 level so it will be important to see how the health care stocks react over the next couple of weeks, it could be signaling further problems with the Affordable Health Care Act. Maybe the Affordable Health Care Act isn't really affordable after all.

    Nicholas Santiago

    (click to enlarge)

    Post by: Nick Santiago

    Stocks: UNH
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