Sigh …
Once again, a major provider of Medicare and Medicaid managed care plans has given the advocates of government-run health care a club with which to bludgeon free market reform. According to the St. Petersburg Times, the FBI descended on WellCare’s Tampa office on Wednesday morning:
Federal law enforcement agents executed a search warrant this morning at the offices of WellCare Health Plans Inc. on Henderson Road, and people were seen removing materials from the building of the managed care company.
And this was not good news for the shareholders::
Trading was halted in WellCare stock at 10:59 a.m. after it had fallen $5.47 a share to $115.50.
It will be interesting to see how long it takes for the socialized medicine crowd to gleefully declare that this vindicates their conspiracy theories about the “health care industrial complex.”
[HT WSJ Health Blog]
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