September 19, 2017 / 4:51 PM / a year ago

BUZZ-Health insurers slip as odds rise for Obamacare repeal

** Health insurers’ shares drop following latest attempts to overhaul Obamacare

** Two Senate committees said on Monday they would hold hearings on a new healthcare reform bill next week, raising possibility that Republicans could still make a Sept deadline to overhaul former President Barack Obama’s signature healthcare law

** See improved odds of passage for Graham-Cassidy bill in Senate and the House, with greater earnings downside in the near term than previous House and Senate bills - Leerink analyst Ana Gupte writes in a note

** Funding would be reduced and redistributed while long-term Medicaid funding would be capped – we believe this would generally reduce near-term earnings power and long-term profit margins - JPMorgan analyst Gary Taylor wrote on Monday

** Same dynamic holds true for larger and diversified insurers with sizeable Medicaid exposure such as ANTM, AET and UNH - Taylor

** UnitedHealth Group Inc down 1.9 pct; Molina Healthcare Inc 4.7 pct; Aetna Inc down 2.7 pct; Centene Corp 3.9 pct; Humana Inc 1.5 pct; Cigna Corp 1.3 pct, Anthem Inc down 0.9 pct

** The S&P 500 managed health care index was down 2.18 pct

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