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Republican health plan clears first hurdles, fate uncertain

Reuters: In the face of opposition by Democrats, healthcare providers and many conservatives, two House of Representatives committees approved the legislation that would undo much of the 2010 Affordable Care Act, popularly known as Obamacare, moving it closer to a vote before the full House. Despite unified Democratic opposition, the Energy and Commerce Committee voted 31-23 to back the plan after marathon proceedings lasting 27 straight hours. Hours earlier, the tax-writing Ways and Means Committee voted 23-16 before dawn to approve it after working 17 straight hours. House Speaker Paul Ryan sought to bolster support among conservatives in his own party, Senate Majority Leader Mitch McConnell said fellow Republicans must get in a "governing mode" while Trump denied the bill was in trouble. "Despite what you hear in the press, healthcare is coming along great. We are talking to many groups and it will end in a beautiful picture!" the Republican president said on Twitter. Hospital shares gained on Thursday, with Healthcare Tenet rising 5 percent. Hospital stocks had fallen after the bill was announced on Monday, with shares of Tenet and Community Health Systems in particular selling off. Health insurers' shares were mixed, with Medicaid-focused insurers lower including Molina Healthcare's 2.2-percent drop.

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