Trump’s Criticism Sparks Market Reaction

Major U.S. health insurers dropped in pre-market trading Monday after President Trump posted a series of antagonizing messages on Truth Social, calling out insurers as lawmakers neared a deal to end the government shutdown.

In his post, Trump wrote:

“THE MONEY MUST NOW GO DIRECTLY TO THE PEOPLE, TAKING THE ‘FAT CAT’ INSURANCE COMPANIES OUT OF THE CORRUPT SYSTEM OF HEALTHCARE.”

ACA Tax Credits at the Center of Debate

The Affordable Care Act (ACA) tax credits, which help subsidize private health-insurance plans, have been a major sticking point in ongoing negotiations.
The Senate advanced a proposal on Sunday to reopen the government — now the longest shutdown in U.S. history — but notably excluded an extension of ACA tax credits.

According to Polymarket data, the market-implied probability that tax-credit extensions would be included in the next funding bill plummeted from over 60% to just 4% by Monday morning.

Insurers Slide in Pre-Market Trading

Insurers heavily exposed to the ACA marketplace saw notable declines:

UnitedHealth ($UNH) – $317.99 (-0.80%)
Elevance Health ($ELV) – $307.95 (-1.05%)
Oscar Health ($OSCR) – $16.25 (-7.13%)
Molina Healthcare ($MOH) – $145.00 (-3.32%)

Investors fear that removing tax-credit support or redirecting funds could pressure profits across the managed-care industry.