Max Baucus’s version of healthcare reform has just passed the Senate Finance Committee. That was expected, though the support from Olympia Snowe was a big event.
But the real story now is that the bill has support from Democrat Jay Rockefeller of West Virginia.
Rockefeller had previous stood in opposition o the bill, because hsaid it would raise taxes on so-called “gold-plated” employer-based health-insurance. Why was this a problem for him? Because these programs are popular with unionized workers… like the type who work in coalmines in West Virginia.
Shares of health insurers are taking a hit. Aetna (AET) is down 3%.
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