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Insurance Stocks Soar With Joe Lieberman’s Statements

The Wall Street Journal is reporting that health insurance stocks are up dramatically today after Joe Lieberman’s threat to filibuster health care reform. Lieberman has a new-found strong opposition to the Medicare buy-in proposal–a massive flip-flop from his earlier support.

Wells Fargo Securities analyst Matthew Perry said Lieberman’s comments are good news for managed-care stocks as anything that delays health-care reform is a positive for the group.

“Every time the reform seems less likely that it will happen, the entire group trades higher,” said Perry, who has advised his clients to buy shares of Wellcare Health Plans Inc. (WCG), recently up 1.3% to $36.74, and Humana Inc. (HUM), up 1% to $42.26.

Among the other recent gainers in the sector, Aetna rose 2.7% to $32.65, Cigna Corp. (CI) added 2.3% to $36.41 and Well Point Inc. (WLP) gained 2.7% to $58.07. Meanwhile, UnitedHealth Group Inc. (UNH) added 1.6% to $30.99.

Joe Lieberman is the rain man for big health insurance companies. Every time he tries to bring down real reform with his nonsensical attacks on the public option or the Medicare buy-in, the stocks of health insurance corporations jump.

Senate Democrats need to understand their support for Joe Lieberman is support for the health insurance industries. Every time they give in to his ridiculous demands, they are giving in to the demands of the health insurance lobbyists. Joe Lieberman and his support of the health insurance companies will be a fifty ton weight that will drown the Democratic party. It is well past time to cut him loose before the party is ruined by its endless appeasement of a man who is fighting against the goals of the party.

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Jon Walker

Jon Walker

Jonathan Walker grew up in New Jersey. He graduated from Wesleyan University in 2006. He is now living in the Washington DC area. He created a politics and policy blog, The Walker Report (