Public Option Death Gives Life to Health Care Stocks - TheStreet

NEW YORK (

TheStreet

) -- The reported death of the

public option

in the congressional health care overhaul breathed life into health care stocks on Wednesday.

The

New York Times

reported that Harry Reid said an agreement had been reached on the contentious public option. While Reid can parse his words and say the public option has been "sidelined" as opposed to "killed," the reported agreement seemed to be, in effect, a Congressional authorization of assisted suicide in the case of its handling of the public option.

Amerigroup

( AGP) led the surge, up more than 3% at the midday trading point Wednesday.

UnitedHealth Group

(UNH) - Get Report

was up a marginal 0.4%, but other health care names had more sizable gains.

Humana

(HUM) - Get Report

was taking part in the limited rally, up 0.7% at midday.

Health Net

(HNT)

and

Aetna

(AET)

were up 1.6% and 0.8%, respectively in early trading.

WellCare Health Plans

(WCG) - Get Report

was doing well, up 0.4%, while

Wellpoint

(WLP)

was still looking a little unwell on Wednesday, down 0.4% at mid-day.

Cigna

(CIG) - Get Report

, on the other hand, was down 0.7% at mid-day.

-- Reported by Eric Rosenbaum in New York.

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