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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Kenneth E. Phillipps who wrote (191332)5/12/2016 3:16:25 PM
From: rayrohn2 Recommendations   of 224756
 
Hospital Stocks Fall After Ruling Against Obamacare Funding
John Lauerman

May 12, 2016 — 1:03 PM CDT

Tenet, HCA, Community Health shares down after ruling

Health insurers including Aetna, Anthem also declined

Hospital stocks dropped after a federal judge in Washington ruled that some of the funding for President Barack Obama’s signature health-care law is unconstitutional, potentially jeopardizing a source of their revenue.

Community Health Systems Inc. fell 11 percent to $12.50 at 1:57 p.m. Tenet Healthcare Corp. lost 7.9 percent to $29 and HCA Holdings Inc., the biggest U.S. for-profit hospital chain, was down 3.4 percent to $77.45. Shares of health insurers, including Anthem Inc. and Aetna Inc., also declined.

In another blow dealt to the Affordable Care Act, known as Obamacare, Judge Rosemary Collyer of the U.S. District Court for the District of Columbia ruled Thursday that the administration doesn’t have the power to provide money to reduce patients’ sharing in the costs of their health care without a congressional appropriation. The court stayed its ruling pending an appeal by the administration.

The ruling is a victory for the Republican-controlled House of Representatives, which brought the suit challenging the payments alleging that Health and Human Services and Treasury secretaries were spending “public monies not appropriated by the Congress.”
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