4 Million People Lost Medicaid In 3 Months, Will Reach 15 Million Before The Election — How Is This Affecting Biden's Presidential Bid?
Portfolio Pulse from Natan Ponieman
Nearly 4 million Americans have lost their Medicaid coverage in the last three months, with an estimated 15 million expected to lose access by the end of the year. This could impact the success of the Democratic party in the upcoming presidential election. The disenrollment is due to the end of the program's continuous enrollment provisions, which were implemented during the COVID-19 pandemic. The states with the highest numbers of people disenrolled are Texas and Florida. Shares of UnitedHealth Group Inc (UNH), Elevance Health Inc (ELV), and CVS Health (CVS) have been affected, as well as the iShares U.S. Healthcare Providers ETF (IHF).
August 09, 2023 | 11:36 pm
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POSITIVE IMPACT
CVS Health's stock is up 1.4% on Wednesday and more than 8% in the past month.
The Medicaid disenrollment could potentially lead to a decrease in the number of insured individuals, which could impact CVS Health's revenues. However, the stock has been performing well over the past month.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
Elevance Health Inc's stock is flat on Wednesday but has gained over 7% in the past month.
The Medicaid disenrollment could potentially lead to a decrease in the number of insured individuals, which could impact Elevance Health's revenues. However, the stock has been performing well over the past month.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
iShares U.S. Healthcare Providers ETF is down 0.3% on Wednesday but up 3.5% in the past month.
The Medicaid disenrollment could potentially lead to a decrease in the number of insured individuals, which could impact the performance of the healthcare industry and, consequently, the iShares U.S. Healthcare Providers ETF. However, the ETF has been performing well over the past month.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
UnitedHealth Group Inc's stock is down 0.2% on Wednesday but up over 9% in the past month.
The Medicaid disenrollment could potentially lead to a decrease in the number of insured individuals, which could impact UnitedHealth's revenues. However, the stock has been performing well over the past month.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75