Health Care Plans - Its getting interesting
Here's a nice short article from Reuters about the CEO of Wellpoint endorsing "Insurance for Everyone". When is the last time a CEO came out in favor of a government program that didn't have the ability to profit from it? If every person in the U.S. got insured, compaines like WLP could see massive revenue gains in just a year. Combine that with the fact that many of the stocks in this sector are undervalued. To me, it just adds up to a great buying opportunity.
WellPoint chief backs universal insurance mandate
WASHINGTON, Nov 1 (Reuters) - The chief executive of WellPoint Inc (WLP.N: Quote, Profile, Research), one of the biggest U.S. health insurers with 36 million customers, said on Thursday individuals should be required to carry insurance as part of any reform effort.
The idea of an individual mandate is at the heart of health care reform proposals of several Democratic candidates for president, including Sen. Hillary Clinton and former Sen. John Edwards. It is also a seminal part of reform in Massachusetts, the U.S. state which has taken the most aggressive steps to increase coverage and tame costs.
Backers of the mandate say it is needed to achieve universal coverage. Insurance would be more affordable with every individual, healthy or sick, in the risk pool, and more would likely get routine check-ups and avoid costly emergency room visits.
"If we don't require access to all," attempts at solving the problem of 47 million people without health insurance in the United States will fail, WellPoint CEO Angela Braly said at the Health Affairs policy conference in Washington, D.C.
Braly noted that a sizable chunk of the uninsured are eligible for public programs but do not sign up.