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10/16/2017 5:23 am  #1


Trump Tweets Approval After Health Care Stocks ‘Plunged’

Trump Tweets Approval After Health Care Stocks ‘Plunged’

It is unlike President Trump to cheer when stocks fall, but early on Saturday he did just that.

“Health insurance stocks, which have gone through the roof during the ObamaCare years, plunged yesterday after I ended their Dems windfall!” he tweeted.

On Thursday, the administration announced it would stop paying subsidies to health insurance companies that help cover costs for low-income people.

“That money is a subsidy for insurance companies,” Mr. Trump said on Friday. “Take a look at their stocks. Look where they are. They’re going through the roof.”

In another tweet on Saturday, Mr. Trump said he was “very proud” of an executive order he had signed Thursday. The order sought to increase competition among insurers, in large part by encouraging associations to offer less comprehensive plans and by allowing more short-term coverage.

The Congressional Budget Office has warned that stopping the subsidies is likely to raise insurance premiums, affect the stability of the health exchange markets set up under the law and, ultimately, add to the federal deficit.

On Friday, stocks for Centene, Molina and Anthem, insurers that have participated in state marketplaces under the Affordable Care Act, slumped by more than 3 percent. Health care providers were also affected. Shares in Acadia Healthcare declined by more than 3 percent and in Tenet Healthcare dropped by just over 5 percent.

While Mr. Trump appeared to celebrate this on Saturday, he has pointed to rising stocks as a sign of success in the past.

“It would be really nice if the Fake News media would report the virtually unprecedented Stock Market growth since election,” he tweeted on Wednesday. “Need tax cuts.”

On Friday, attorneys general in 18 states, plus the District of Columbia, announced a lawsuit to fight the administration’s decision to stop subsidy payments.

“Taking these legally required subsidies away from working families’ health plans and forcing them to choose between paying rent or their medical bills is completely reckless,” the California attorney general, Xavier Becerra, said in a statement on Friday. “This is sabotage, plain and simple.”

Eric Schneiderman, the New York attorney general, called the scrapped subsidies “yet another reckless and cruel decision by the Trump administration” that would “drive up insurance prices and increase the number of uninsured.”


“While the framers of the Constitution foresaw the possibility of a tyrannical president, they never let their imaginations be darkened by the possibility of a compliant Congress.”
 

10/16/2017 5:23 am  #2


Re: Trump Tweets Approval After Health Care Stocks ‘Plunged’

We can add the Insurance industry to the list of things that Trump does not understand. 


“While the framers of the Constitution foresaw the possibility of a tyrannical president, they never let their imaginations be darkened by the possibility of a compliant Congress.”
     Thread Starter
 

10/16/2017 6:45 am  #3


Re: Trump Tweets Approval After Health Care Stocks ‘Plunged’

Wonder how the "average Joe" felt that had money in funds that had these companies ? 


"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"
 
 

10/16/2017 7:10 am  #4


Re: Trump Tweets Approval After Health Care Stocks ‘Plunged’

Stop the Presses! Trump has "Discovered" that the ACA Subsidies for buying health insurance go to the insurance companies!

Donald J. Trump‏Verified account @realDonaldTrump Oct 13  
Money pouring into Insurance Companies profits, under the guise of ObamaCare, is over. They have made a fortune. Dems must get smart & deal!

Yes, Donald, the money goes to insurance companies,,,,,,,who then provide,,,, insurance to people!
That was the plan all along.

 

Last edited by Goose (10/16/2017 7:11 am)


“While the framers of the Constitution foresaw the possibility of a tyrannical president, they never let their imaginations be darkened by the possibility of a compliant Congress.”
     Thread Starter
 

10/16/2017 7:24 am  #5


Re: Trump Tweets Approval After Health Care Stocks ‘Plunged’

Goose wrote:

Stop the Presses! Trump has "Discovered" that the ACA Subsidies for buying health insurance go to the insurance companies!

Donald J. Trump‏Verified account @realDonaldTrump Oct 13  
Money pouring into Insurance Companies profits, under the guise of ObamaCare, is over. They have made a fortune. Dems must get smart & deal!

Yes, Donald, the money goes to insurance companies,,,,,,,who then provide,,,, insurance to people!
That was the plan all along.

 

He likely thinks it is going to work differently under his plan ! He truly may be a moron. 


"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"
 
 

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