Hospital stocks went up and insurance-company stocks dropped after the Supreme Court upheld the Affordable Care Act. The overall market was down as well in early trading, no doubt reflecting how the decision caught the market by surprise. Those involved in the health-care field — from insurance companies to unions to health providers — had plenty riding on today’s Supreme Court decision. We’ll provide reaction as it comes in.
Here’s some comments, via a press release, from Daniel Sisto, president of the Healthcare Association of New York State:
“New York’s hospitals and health systems are pleased that the Supreme Court decision makes possible the extension of health insurance coverage to 32 million Americans. Insurance will be made more affordable, particularly for those with pre-existing conditions among others who had been effectively shut out of the health insurance marketplace. Achieving universal coverage through affordable and comprehensive insurance is a cornerstone of HANYS’ mission.
“This decision will also continue to spur health care providers to reduce health care costs and improve patient care through innovations in the way health care is provided. We already see hospitals and other health care providers in New York making these kinds of changes, even as they face repeated, deep cuts in reimbursement from Medicare and Medicaid.
While ACA expands health insurance coverage, there will still be millions of Americans without coverage. The challenge going forward for the nation will be to close that gap and achieve universal coverage.”