But Borsch also said next month's presidential election will weigh more heavily on insurer stocks than earnings reports. He said a victory by Republican presidential candidate Mitt Romney will lead to a "strong and sustained" insurer rally. Romney has said he plans to repeal the health care overhaul if he's elected.
The overhaul is expected to add millions of new customers for insurers, but investors also are wary of the law's taxes and restrictions.
Shares of UnitedHealth, which became a Dow Jones industrial average component last month, fell 61 cents to close at $56.88 Tuesday.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV