Health Insurers Drop As Obamacare Heads Back To Court
The news that President Barack Obama's landmark healthcare reform law is heading back to the US Supreme Court, hit healthcare sector stocks on Friday. Health insurers were hit particularly hard. The S&P 500 healthcare sector fell more than 1%, while the main benchmark was off only a few points. The U.S. supreme court announced that it would decide how broadly the federal government could offer subsidies to buyers of health insurance. Humana Inc. fell more than 6%, after profits missed Wall Street estimates due to increased expenses. WellPoint, Inc., , Aetna Inc., and UnitedHealth Group Inc. were all down nearly 3%.
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