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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (74608)10/17/2024 12:56:28 PM
From: Paul Senior1 Recommendation

Recommended By
Lance Bredvold

  Read Replies (2) of 78748
 
Not a good day for medical insurers. HUM continues to fall as ELV and CNC tumble.

WSJ: "Like other insurers, Elevance is saying that the rates it is paid under the government program for low-income Americans fall short of what it needs, due to the medical costs of Medicaid enrollees. The mismatch is tied to a wave of enrollees being dropped from Medicaid after the government reintroduced eligibility checks, which it had suspended during the public-emergency period implemented amid the pandemic.

Elevance executives said the issues are “time bound,” and it will negotiate higher Medicaid rates, but the process will take time. The company said that it expects the gap between its Medicaid payments and costs to narrow in 2025, and that it was confident in its Medicaid and Medicare businesses over the long term."

I continue to hold for now. Drop in ELV and destruction of my gains here is totally on me. Could have foreseen it happening to to ELE given HUM's reports and its subsequent earilier stock drop. A general problem with having so diverse a portfolio - not able to focus well on individual stocks and implications for them. Also my being old and slow doesn't help.
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