Dropping public option from Obama plan cheers insurers
Photo credit: Getty Images Photo | President Barack Obama speaks during a "tele town-hall" meeting at the headquarters of the American Association of Retired Persons in Washington D.C. on health care proposals. (July 2009)
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New York's private insurers Monday were relieved - and their Wall Street stock climbed higher - as the Obama administration signaled it may be dropping the controversial "public option" component from its proposed overhaul of the nation's health care system.
While the rest of the market plummeted, stock prices for managed care, HMO and other for-profit insurers enjoyed a noticeable rise after...
