Top insurers began the trading day on Monday with losses on Wall Street after a federal judge ruled Friday afternoon that Obamacare is unconstitutional.
Anthem’s stock was down 2.62 percent to $268.37 per share in trading in New York. UnitedHealth Group was down 1.6 percent to $260.78, while Centene was down 7.94 percent to $117.40.
Insurers have been performing better in the markets created under the health law after years of struggling. Revenue at Centene, for example, rose 36 percent to $16 billion in the third quarter. The insurer, which has significant operations in the federal insurance business, plans to expand to Pennsylvania, North Carolina, South Carolina, and Tennessee next year.
At Molina Healthcare Inc., which plans to enter Utah and Wisconsin in 2019 after not offering plans in the states in 2018, net income rose to $197 million in the third quarter after losses a year earlier. Molina’s stock was down 12.96 percent to $114.65 per share on Monday.
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Top health insurers began the trading day on Monday with losses on Wall Street. https://t.co/YzRuk4plT4
— Washington Examiner (@dcexaminer) December 17, 2018
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