Health Care Select Sect SPDR ETF (XLV) - NYSEARCA
  • Jan. 1, 2014, 4:22 AM
    • More than 2.1M people have signed up for Obamacare-mandated health insurance, which has gone into effect today. That's an addition of 1.6M consumers in December, but somewhat below the 3.3M that was initially projected.
    • Administration officials also don't know how many people have paid, while insurers haven't received all the information they need about those who have bought plans. As a result, much confusion is expected when patients turn up for appointments, a situation the government is hoping to help alleviate with a toll-free call center.
    • Around 3.9M people are judged eligible for Medicaid and a related children's insurance program, although it's not known how many have signed up. Another 3M young Americans have coverage under their parents' plans.
    • More on Obamacare.
    • Health insurers: AET, HNT, HUM, UNH, WLP, MOH.
    • Hospital operators: HCA, CYH, THC, UHS, HMA, LPNT.
    • ETFS: XLV, XHE, VHT, FXH, IHF, IHI, IYH, PTH, RYH, PSCH, RXL, RXD, XHS.
    | Jan. 1, 2014, 4:22 AM | 27 Comments
  • Dec. 31, 2013, 4:09 AM
    • As of yesterday, only around half of those who had signed up for healthcare coverage offered by over 100 insurers in 17 states under Obamacare had paid for their plans.
    • As a result, confusion is set to reign when the coverage takes effect tomorrow and until insurers can process those payments and issue membership cards. Around 2M people have signed up for coverage.
    • Insurers are attempting to alleviate the situation for customers by saying they'll accept payment as late as January 31 for coverage that starts tomorrow.
    • Meanwhile, Pharmacy chains such as CVS Caremark (CVS) and Walgreen (WAG) will provide prescription medications to consumers who have started but not completed the sign-up process.
    • More on Obamacare.
    • Relevant company tickers: AET, HNT, HUM, UNH, WLP, MOH. ETFS: XLV, XHE, VHT, FXH, IHF, IHI, IYH, PTH, RYH, PSCH, RXL, RXD, XHS.
    | Dec. 31, 2013, 4:09 AM | 5 Comments
  • Dec. 30, 2013, 4:12 AM
    • Over 1.1M people had signed up for health insurance under Obamacare via the government's HealthCare.gov Web site by the Christmas Eve deadline after 975,000 bought coverage this month.
    • Combined with those who acquired plans in Washington DC and 14 states that operate their own exchanges, around 2M people have obtained insurance. The government had hoped that 3.3M people would have signed up by now.
    • The next major test will come on Wednesday onwards, when the coverage is due to start. There are widespread concerns that patients will turn up for appointments and treatments only to find that their insurance application didn't go through properly, or that their new plans don't cover them for the care they want or need. As a result patients have been rushing to carry out tests, procedures and elective visits before the end of the year.
    • More Obamacare.
    • Relevant company tickers: AET, HNT, HUM, UNH, WLP, MOH.
    • ETFS: XLV, XHE, VHT, FXH, IHF, IHI, IYH, PTH, RYH, PSCH, RXL, RXD, XHS.
    | Dec. 30, 2013, 4:12 AM | 13 Comments
  • Dec. 26, 2013, 3:55 AM
    • Federal and state governments are continuing to let people sign up for health coverage that takes effect on January 1 even though the latest national deadline passed on Tuesday.
    • Those who were unable to buy plans because of the problems affecting Obamacare's HealthCare.gov can contact a call center to see if they can still purchase plans, while Massachusetts, Minnesota and Rhode Island are allowing residents to sign up as late as New Year's Eve.
    • The continued shifting of the deadlines comes amid a late surge in attempts to buy coverage, with 2M people visiting HealthCare.gov on Monday.
    • However, it's not going down well with health insurers, who believe they won't have enough time to process all these late applications.
    • Relevant company tickers: AET, HNT, HUM, UNH, WLP, MOH.
    • ETFS: XLV, XHE, VHT, FXH, IHF, IHI, IYH, PTH, RYH, PSCH, RXL, RXD, XHS.
    | Dec. 26, 2013, 3:55 AM | 6 Comments
  • Dec. 24, 2013, 4:30 AM
    • Amid a last-minute crush to buy health-insurance coverage, the White House has extended by 24 hours to today the deadline for signing up for plans.
    • Over 1M people had logged onto the much maligned HealthCare.gov Web site by 5 pm yesterday, causing sluggishness and long waiting times.
    • The postponement is the latest example of how the government has arbitrarily moved deadlines and changed the parameters of Obamacare, causing huge uncertainty for insurers and consumers.
    • More on Obamacare.
    • Relevant company tickers: AET, HNT, HUM, UNH, WLP, MOH.
    • ETFS: XLV, XHE, VHT, FXH, IHF, IHI, IYH, PTH, RYH, PSCH, RXL, RXD, XHS.
    | Dec. 24, 2013, 4:30 AM | 12 Comments
  • Dec. 22, 2013, 4:55 AM
    • Tomorrow is the deadline for people to sign up for health insurance that is due to take effect on January 1.
    • However, much uncertainty exists among insurers and consumers, due to government decisions to delay some of Obamacare's most important provisions, a result of the fiasco that has been the Healthcare.gov Web site, which suffered a three-hour outage on Friday.
    • The latest change is allowing anybody whose current plan is illegal under the new law to buy "catastrophic coverage", whereby benefits are limited and the deductibles are high. Those plans were initially supposed to be restricted to people under 30 years of age.
    • President Obama said on Friday that over 1M Americans have selected new health-insurance plans through the new exchanges. That's well below the initial target of 3.3M by the end of December.
    • Industry trade group Health Insurance Plans said its members will give consumers until January 10 to pay the first month's premium of a plan as long as they pick a scheme by tomorrow night. The move follows a request from the White House for insurance companies to be relaxed about the various deadlines.
    • The NYT profiles how Obamacare has hit those in the middle class who earn too much to be eligible for subsidies. "In some places, prices can quickly approach 20% of a person's income," the NYT writes. "Experts consider health insurance unaffordable once it exceeds 10%."
    • More on Obamacare.
    • Relevant company tickers: AET, HNT, HUM, UNH, WLP, MOH.
    • ETFs: XLV, XHE, VHT, FXH, IHF, IHI, IYH, PTH, RYH, PSCH, RXL, RXD, XHS.
    | Dec. 22, 2013, 4:55 AM | 17 Comments
  • Dec. 20, 2013, 12:37 PM
    • Health Care Select Sect SPDR ETF (XLV) announces quarterly distribution of $0.2250.
    • 30-day SEC yield of 1.50% (as of 12/18/2013).
    • For shareholders of record Dec 24; Payable Dec 31; Ex-div date Dec 20.
    | Dec. 20, 2013, 12:37 PM
  • Dec. 15, 2013, 3:43 AM
    • Health insurers are continuing to receive error-strewn information from the government's HealthCare.gov Web site as the starting date for Obamacare coverage of January 1 draws closer.
    • However, the government maintains that the problems stem from data that was transferred to insurers in October and November, and that information passed over this month is accurate.
    • The government wants insurance companies to take a relaxed approach to the various deadlines and consumer coverage-issues that may crop up until all the kinks are ironed out, but whether the firms will comply is another matter.
    • Either way, bureaucratic chaos is expected to reign come the New Year.
    • More on Obamacare.
    • Relevant company tickers: AET, HNT, HUM, UNH, WLP, MOH.
    • ETFs: XLV, XHE, VHT, FXH, IHF, IHI, IYH, PTH, RYH, PSCH, RXL, RXD, XHS.
    | Dec. 15, 2013, 3:43 AM | 8 Comments
  • Dec. 11, 2013, 10:02 AM
    | Dec. 11, 2013, 10:02 AM
  • Dec. 8, 2013, 4:58 AM
    • The government's HealthCare.gov Web site for Obamacare was failing to accurately transmit around 10% of applications to insurers - as of Friday - although that represents a vast improvement on the error rate in October.
    • Still, up to 25% of the enrollment records for people who bought coverage in October and November could contain mistakes, raising doubts about whether those customers would be insured if the policies take effect from January 1, as scheduled.
    • Meanwhile, insurers are working with the Centers for Medicare & Medicaid Services (CMS) on a short-term back-up system that will enable the government to pay the firms for the income-based subsidies that many consumers qualify for under Obamacare.
    • More on Obamacare.
    • Relevant company tickers: AET, HNT, HUM, UNH, WLP, MOH.
    • ETFs: XLV, XHE, VHT, FXH, IHF, IHI, IYH, PTH, RYH, PSCH, RXL, RXD, XHS.
    | Dec. 8, 2013, 4:58 AM | 3 Comments
  • Dec. 2, 2013, 3:18 AM
    • The White House said yesterday that it has achieved its target of improving the HealthCare.gov Web site so that it works "smoothly for the vast majority of users."
    • Officially, the portal is now operating over 90% of the time vs 40% at some points in October, the loading time is much faster, the error rate has dropped to 0.75% from 6%, and the site can handle 50,000 users at the same time.
    • However, the latter claim hasn't been tested in the real world, and some in the government reportedly aren't certain the site will hold up.
    • The back-end systems continue to be a problem, with one result being that while some consumers believe they've bought coverage from insurers, the latter don't have any records of the transactions. One detail that the government didn't provide was how many people are completing all the enrollment steps.
    • The next deadline is the middle of this month, by which time consumers need to have signed up for coverage that starts on January 1.
    • More on Obamacare.
    • Relevant company tickers: AET, HNT, HUM, UNH, WLP, MOH.
    • ETFs: XLV, XHE, VHT, FXH, IHF, IHI, IYH, PTH, RYH, PSCH, RXL, RXD, XHS.
    | Dec. 2, 2013, 3:18 AM | 2 Comments
  • Nov. 29, 2013, 5:21 AM
    • Tomorrow is the White House's self-imposed deadline for the federal HealthCare.gov Web site to be working properly for 80% of users.
    • However, "navigators" whose job it is to help people sign up say that problems persist. It's "kind of hit and miss," says one, although "there have definitely been more hits lately than in the past." The COO of Enroll Alaska rates the site 4/10.
    • Molina Healthcare (MOH) has expressed its support. "It is easier to navigate. It's working better. It's faster," Molina said.
    • More problems for the portal could lead to millions of Americans to decide to forego buying coverage and swallow the fine instead.
    • The participation of the young and healthy is particularly important to the success of the insurance exchanges.
    • Should the problems continue, the government might come under pressure to extend the March 31 deadline for open enrollment, a move that insurers have warned could undermine the market.
    • More on Obamacare.
    • Relevant company tickers: AET, HNT, HUM, UNH, WLP
    • ETFs: XLV, XHE, VHT, FXH, IHF, IHI, IYH, PTH, RYH, PSCH, RXL, RXD, XHS.
    | Nov. 29, 2013, 5:21 AM | 1 Comment
  • Nov. 21, 2013, 4:34 AM
    • President Barack Obama might have said that consumers will be allowed to keep canceled health-insurance policies for one more year, but at least five states - including New York and Washington - won't let such plans be reinstated, as they believe it would harm their exchanges.
    • Many carriers are also not allowing their customers to extend their old policies, due to time constraints and other obstacles. And those firms that may reverse the cancellations have said that premiums could rise.
    • Of the major players, Cigna (CI) could reinstate policies, while WellPoint (WLP) is analyzing the situation.
    • More on Obamacare.
    • Relevant company tickers: AET, HNT, MOH, HUM, UNH
    • ETFs: XLV, XHE, VHT, FXH, IHF, IHI, IYH, PTH, RYH, PSCH, RXL, RXD, XHS.
    | Nov. 21, 2013, 4:34 AM | 5 Comments
  • Nov. 14, 2013, 7:25 PM
    • Pres. Obama's administrative fix for health insurance cancellations may sound simple - allow insurers to extend their plans for another year - but it's anything but easy.
    • "Changing the rules after health plans have already met the requirements of the law could destabilize the market and result in higher premiums for consumers," says the head of the top insurer trade group. "Premiums have already been set for next year based on an assumption of when consumers will be transitioning to the new marketplace."
    • "The logistics of doing it with just a few days left in the policy year are extremely difficult," says a former CEO of Oklahoma's largest health system. The fix "shifts the blame and makes [the insurance companies] the culprits."
    • Aetna (AET) says it will need close cooperation from state insurance regulators to implement the fix.
    • Beyond the administrative burden, Citi analyst Carl McDonald says the change presents a risk of building a less healthy and less profitable pool of insurance buyers; the potential deterioration of the exchange market will pose a risk for WellPoint (WLP), Humana (HUM) and Health Net (HNT), which pursued aggressive exchange strategies for 2014.
    • ETFs: XLV, XHE, VHT, FXH, IHF, IHI, IYH, PTH, RYH, PSCH, RXL, RXD, XHS.
    | Nov. 14, 2013, 7:25 PM | 35 Comments
  • Nov. 12, 2013, 4:46 AM
    • Fewer than 50,000 people had managed to enroll in private insurance plans via the government's problem-plagued HealthCare.gov Web site as of last week. The number represents less than 10% of the 500,000 people that had been projected.
    • Twelve of the 14 states that are operating their own exchanges have signed up 49,000. The total is therefore also well below the initial target, which was 800,000. The Congressional Budget Office's prediction of 7M enrollments by March seems like a distant dream.
    • Major health insurers are so concerned that they want to be allowed to sign up those who are entitled to subsidies directly rather than via the federal system. However, the administration isn't keen, due to privacy concerns.
    • Insurers: Aetna (AET), WellPoint (WLP), UnitedHealth Group (UNH), Humana (HUM), Cigna (CI), Molina Healthcare (MOH).
    • ETFs: XLV, XHE, VHT, FXH, IHF, IHI, IYH, PTH, RYH, PSCH, RXL, RXD, XHS.
    | Nov. 12, 2013, 4:46 AM | 2 Comments
  • Oct. 24, 2013, 3:54 PM
    • Healthcare is no longer the best performing sector of the year, MarketWatch's Wallace Witkowski notes.
    • The S&P 500 health care index fell slightly behind the consumer discretionary index today in terms of YTD returns (32% versus 32.5%).
    • Healthcare ETFs: XLV, XHE, VHT, FXH, IHF, IHI, IYH, PTH, RYH, PSCH, RXL, RXD, XHS
    | Oct. 24, 2013, 3:54 PM
XLV Description
The Health Care Select Sector SPDR® Fund, before expenses, seeks to closely match the returns and characteristics of the Health Care Select Sector Index. Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs.
See more details on sponsor's website
Sector: Healthcare
Country: United States
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