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Despite the recent drama in Washington over President Donald Trump withholding critical cost-sharing reduction payments from insurance companies, Height Securities remains optimistic that there will be no major disruptions in the healthcare market.
According to Andrew Parmentier, the QSR payment issue and the potential government shutdown on April 28 will likely both be resolved in coming days.
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The Situation And Environment Surrounding April 28
“In the end, we think it’s likely that Congressional Democrats will be successful in either directly or indirectly compelling the Administration to disburse the CSR funds within the next couple of weeks, likely while simultaneously working successfully with Congressional Republicans to avoid a government shutdown,” Parmentier explained.
With the April 28 deadline looming, he suggests Congress may pass some form of extension prior to April 28 to give themselves more time to work on a government funding resolution.
With CSR payments and government funding out of the way, Republicans can turn their attention back to repealing the Affordable Care Act.
“So long as House Republicans approve an ACA repeal bill in May, we continue to expect the Senate will be able to quickly pass its own, more moderate version of ACA repeal that in turn quickly receives final approval by the House and [is] sent to President Trump prior to the Memorial Day recess,” Parmentier predicts.
If that timeline holds, investors could have a potential resolution to healthcare policy within a couple of months.
After investors initially responded very positively to Trump’s election, investors have become increasingly cautious in recent weeks. In the past month, the SPDR S&P 500 ETF Trust (NYSE:SPY) is down 0.6 percent, while the Health Care SPDR (ETF) (NYSE:XLV) is down 1.4 percent.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.