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Insurers nervous over prospect of Romney victory

Romney win could mean months of uncertainty regarding PPACA

(AP Photo/Charles Dharapak)
(AP Photo/Charles Dharapak)

WASHINGTON (AP) — You'd think health insurance CEOs would be chilling the bubbly with Republican Mitt Romney's improved election prospects, but instead they're in a quandary.

Although the industry hates parts of President Barack Obama's health care law, major outfits such as UnitedHealth Group and BlueCross Blue Shield also stand to rake in billions of dollars from new customers who'll get health insurance under the law. The companies already have invested tens of millions to carry it out.

There is no consensus among Republicans in Congress on how to replace Obama's law, much less anything like a bipartisan middle ground on health care, a necessity if the House retains its GOP majority and the Senate remains in Democratic hands.

In contrast, Obama's law is starting to look more and more like a tangible business opportunity. In a little over a year, some 30 million uninsured people will start getting coverage through a mix of subsidized private insurance for middle-class households and expanded Medicaid for low-income people. Many of the new Medicaid recipients would get signed up in commercial managed care companies.

Copyright 2016 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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Nichole Morford

Nichole Morford
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