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The Insurance Companies’ Latest Target: Specialty Drugs
The Huffington Post

Read the headlines these days and you’d think the health insurance companies are going broke. It’s true most insurers offering Obamacare are losing money on it. UnitedHealth Group, the nation’s largest insurer, announced it will all but exit Obamacare next year because of those loses. But insurance companies have not fallen on hard times. Anything but.

Obamacare may be a bust, but the overall portfolios for most insurers, all those products offered outside the Obamacare exchanges, have earned staggering profits under Obamacare. Look at insurers’ stock prices. On March 23, 2010, the day President Obama signed the Affordable Care Act, UnitedHealth traded at $30.40 a share. Today, it’s $133. UnitedHealth is not alone. In January, the Center for Public Integrity noted: “Health Net’s share price has increased 224 percent [under Obamacare]…. Anthem’s is up 238 percent…. Aetna’s 290 percent. Cigna’s 305 percent. And Humana’s 309 percent.” How have insurers done it? By increasing deductibles, hiking premiums, and slashing coverage for medical services and drugs, especially specialty drugs.

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