Shares of health insurance companies, including UnitedHealth Group, continued to soar Friday, two days after Brian Thompson, CEO of the company's health insurance division, was shot and killed by a gunman waiting outside a Manhattan hotel. continued to decline.
Police officials said the gunman was still at large and a motive for the attack had not been determined.
Thompson's death sparked widespread debate on social media over frustration with the way the U.S. health insurance system operates, particularly when medical expenses are not covered or claims and requests for treatment are denied.
“The anti-insurance sentiment expressed by the public after this event means that UnitedHealth and perhaps the insurance industry may need to adjust how they handle coverage decisions,” Morningstar analyst Julie Utterback said. It suggests that.”
UnitedHealth stock fell 4.8% on Friday after falling 5% on Thursday. Rival insurers Elevance, Centene, CVS Health and Cigna also fell 1% to 3% in afternoon trading. All of these stocks also stalled on Thursday.
Police sources told ABC and the New York Post that shell casings found at the scene were inscribed with the words “denial,” “defense,” and “resign.” The term is reminiscent of the title of Jay Feynman's 2010 book criticizing the U.S. insurance industry, “Delay Denial Defense: Why Insurance Companies Don't Pay Claims and What You Can Do About It.”
Follow the latest information on the murder case of United Healthcare CEO Brian Thompson:
Social media sites are filled with angry posts attacking companies and users who share personal frustrations over being denied interviews or not getting the care they need, as well as “thoughts and prayers require prior permission.” There are a lot of sarcastic videos with unsympathetic messages.
The health insurance company re-evaluate risk UnitedHealth and CVS executives removed photos of executives from their websites after the shootings.
Utterback said coverage decisions could change due to internal initiatives or external pressures that could pose a risk to profits.
The insurance industry has struggled over the past several quarters as insurers have taken on more of the burden due to increased demand for medical care under government-sponsored Medicare plans for the elderly and disabled, as well as state changes to Medicaid eligibility. facing rising costs. Patients who require more medical services.
