Results from the 2020 U.S. national elections – although not certified by the Electoral College – will likely result in a new President, Joe Biden, who will be joined by a Democratic-led U.S. House and a Republican-led Senate (depending on the outcome of two Senate runoffs in Georgia). As a result, we expect to see Democrats’ ambitious plans tempered by Republican control of the Senate. In this Market Event Summary, we look at three issues – health insurance, particularly the push to build upon the Affordable Care Act; proposed pharmaceutical pricing reforms; and healthcare providers – and how the likelihood of divided government will likely affect proposed changes that were part of the Democratic 2020 campaign. While the ultimate composition of the Senate remains to be determined, any changes at this point will likely be piecemeal or created via executive order from the President.
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