This is just a peek at the people and companies in charge of healthcare costs in the United States of America and the poor darlings running this cash strapped business. My first step was to Google the names that were mentioned in my first search of this Obamacare system that befell us with the election of Obama. Here are three companies mentioned in the article in 2008 and their respective stock prices: Humana – $17.85, Cigna – $12.77 and Wellcare – $6.51.
If you owned any of these stocks in 2008 and held on, you would have some serious money in 2016. In reality, people who were on the low end of the medical insurance market were people who didn’t have a spare buck or two to afford health insurance and received a susbsidy from the federal government to get health coverage. Hence, these people would not have seen any of this increase in medical insurance stock.
However, people who were invested in the stock market would have been an avid follower of the medical insurance market and an active investor in some of these medical insurance companies. Hence, they might have been bitching and moaning about the high cost of medical insurance premiums but would have been secretly chuckling at the large increase in their stock portfolio. Most people in the stock market follow closely the trends in companies and who is doing good and what kind of stocks should be in their portfolios. So, if these people bitched about the high cost of medical insurance premiums but were vested in the Stock Market in the right stocks, this medical insurance premiums increase wouldn’t have been a problem.
Recent activity of these stocks from Google:
In 2008, CIGNA stock was valued at $12.77. On October 25, 2016, according to the Google finding below, the stock was valued at $124.73, or, an increase of $111.96, an increase in the value of this stock of 877%.
In 2008, Humana stock was valued at $17.85. On October 25, 2016, according to the Google finding below, the stock was valued at $174.92, or, an increase of $157.13, an increase in the value of this stock of 880%.
In 2008, Wellcare stock was valued at $6.51. On October 25, 2016, according to the Google finding below, the stock was valued at $118.38, or, an increase of $111.87, an increase in the value of this stock of 1,718%.
These are only three stocks that were affected by the increase in premiums for Obamacare. All premiums are paid to the medical insurance companies and not the government. From what I know about the medical industry, the one person(s) who is making serious money in the medical business is the providor (the doctor or the medical facility). The medical community has one of the highest turnover rates in the employment business. Also, you can look at the TV and internet, the medical training industry is one of the most heavily advertised industries out there.
The entry level rate of pay is low, just like the retail industry but you don’t see schools all over the place placing ads for job training for the retail trade. The school training world is frought with the current student loan repayment debacle which is more than 1 Trillion dollars in debt. Quite a few seniors are having their Social Security payments reduced for making these payments. That’s just a private bitch about quite a few people that are obligated and paying out of their only resource, their monthly Social Security check from the government.
Here is another search on Google on Market peformance with the medical industry gettinga piece of the pie
The above schedule shows that the Healthcare Industry is composed of 6 industries and represents approximately 20% of the S&P 500 Index, or, $4.33 Trillions dollars and represented an increase of Health Care in 1 year, a change of +0.17%. That means the healthcare market is doing good. Source for these figures is the Fidelity Sectors and Industry Review.
That’s why I have a hard time crying over the cost of increased healthcare premiums and blaming it on Obamacare. I think that it is about time that Washington, D.C. takes a serious look at healthcare costs and starts to take a leadership role in making America the leader in providing healthcare at a low and affordable cost to all Americans. But then again, that’s just me.As my father-in-law would say in Italian, too many cafones running around in Washington, D.C.