UnitedHealth Group shares keep falling, other health insurance stocks follow, as criticism of the industry heats up
Posted: Dec 12, 2024
- Major insurance stocks like UnitedHealth Group, Cigna Group, and Elevance have fallen in the past five days
- UnitedHealth Group shares have decreased almost 11%, Cigna Group has dropped almost 10%
- Criticism of the insurance industry has intensified after the killing of UnitedHealthcare CEO Brian Thompson and arrest of a critic of the American healthcare system
- Bipartisan bill introduced to force health insurers and drug middlemen to divest from their pharmacy businesses within three years
- Americans have long criticized insurance companies over denied claims, surprise bills, and high out-of-pocket costs
- Analysts believe the negative stock reaction will be short-lived and do not expect material changes from the insurance companies.
What do people on Reddit think?
🚨 Reddit sentiment: negative - Comments heavily criticize UnitedHealth Group and the broader health insurance industry for being greedy and exploitative. Several comments indicate hope for the company's stock to fall further, and there are detractors of the industry expressing strong negative feelings about their business practices. Summarized comments: - Some comments express happiness over UnitedHealth Group facing issues and suggest others share the sentiment that the health insurance industry is greedy and problematic. - Concerns about healthcare insurance companies, like UnitedHealth Group, using faulty AI to deny care for profit, suggesting systemic issues within the industry. - A suggestion that this situation could be a 'buy the dip' opportunity similar to past occurrences like with Crowdstrike, although confidence that the healthcare model will persist. - Personal anecdotes shared about financial struggles with healthcare costs despite insurance coverage, fostering negative views. - Skepticism about significant regulatory changes harming the insurance business model due to political influences. Stock tickers discussed: $UNH
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