Lloyd Fox Baltimore Sun | Tribune News Service | Getty Images
This includes UnitedHealth, CVS Health And signwho run three of the country’s largest private health insurance companies. Thompson, 50, led UnitedHealthcare, the largest private payer of health insurance benefits in the United States.
Luigi MangioneThe 26-year-old is accused. Deadly shooting Thompson outside the Hilton Hotel in midtown Manhattan early Wednesday last week, as the CEO of UnitedHealth Group headed into the investor day. Investigators have said Mangione was a critic of the health care industry — a theory Few Americans sympathize with online. In the days following Thompson’s death.
The companies’ stock performance appears to be responding to “renewed rhetoric” condemning insurers’ business models, where they are “incredibly profitable at the expense of some patients at various points in the year,” Jared said. Holz, Mizuho’s healthcare equity strategist, said in an interview.
He noted that this is not a new topic in the industry – which many Americans blame for their rising health care costs.
“I think the investor reaction is, ‘Do we want to own this category of stocks if there’s renewed negative attention on the industry?'” Holz said.
UnitedHealthcare, like other major insurers, has faced lawsuits and criticism from regulators, lawmakers and patients alike for denying claims to maximize its profits. Americans have criticized insurance companies for denying coverage for services or treatments, unexpected bills, high out-of-pocket costs and the complexities of navigating coverage, among other problems.
While backlash has been building in the industry since the shooting, Holz said the stock’s negative reaction will likely fade as being “fairly short-lived.” He added that he does not expect insurance companies to make material changes to their policies in response to the killing.
“Do I think companies actively do anything different on the back of this? No,” Holz said.
Booking photos by Luigi Mangione from SCI Huntingdon in Huntingdon, PA
Source: PA Department of Corrections
New York prosecutors charged Mangione with second-degree murder, possession of a loaded gun and other crimes, hours after his arrest in Altoona, Pennsylvania, on Monday night. The New York charges followed Mangione’s first court appearance in Pennsylvania on separate gun and forgery counts.
Mangione, a private school valedictorian and Ivy League graduate from an influential Maryland family, was held without bail after his arrest Monday evening.
At a court hearing Tuesday afternoon, Mangione refused to waive his right to challenge his extradition to New York City. A judge denied Mangion’s bail, sending him back to prison in Pennsylvania for now.
Law enforcement officials told NBC News that at the time of his arrest, Mangione was carrying handwritten pages criticizing the U.S. health care industry and mentioning UnitedHealthcare. .
“I apologize for any strife or trauma but it had to be done. Frankly, these parasites just had it,” Mangione wrote, NBC reported.
New York Police Commissioner Jessica Tisch told NBC’s “TODAY” show Tuesday that authorities are still investigating a motive for the shooting, which “will unfold in the coming weeks and months as this investigation unfolds.” But he noted that Mangione’s note has “a lot of anti-corporate sentiment, a lot of problems with the health care industry.”