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.