We are about two steps away from health insurance reform in America, says Obama. Stephanie Condon for CBS News reports that Democrats in the House managed late Saturday night to pass their comprehensive health care bill by a vote of 220 to 215. Meanwhile, 39 Democrats voted against the bill, even after adding to the legislation a strict anti-abortion measure intended to earn the support of moderates.

Don Dion for TheStreet reports that even as public support for the health care bill wanes, there’s hope yet for the sector’s ETFs. (Why health care reform still looks good). The downward trend for providers could reverse as voters turn their backs on the ambitious health care overhaul. Voters are apparently dissatisfied with Obama’s policies.  (How has health care affected ETFs so far?)

On the other hand, if health care reform goes through, some ETFs could see their holdings change as some constituents are legislated out of existence by the new laws.

As the health insurance and health care industry stand to gain from about tens of millions of customers, the industry is still complaining. Duff Wilson and Reed Abelson for The New York Times report that insurers do not like the idea of a government-run insurance program. Drug makers oppose billions of dollars in rebates they would have to give to the government over 10 years. Meanwhile, medical device providers would have to give a 2.5% tax to the government on their products. Also, employers large and small oppose rules that, for many of them, would make health care coverage — long a job benefit — become a federally-mandated obligation.

For more stories about health care, visit our health care category.

• iShares Dow Jones U.S. Health Care Providers (NYSEArca: IHF): up 26.9% year-to-date

• PowerShares Dynamic Health Care Services (NYSEArca: PTJ): up 10.3% year-to-date

Both of the presidential nominees’ plans were proposed before the current conditions we face now, and compromises will likely be made at the expense of health care’s well-being, reports James Ritchie for Business Courier.

While we’re all thinking about the $700 billion bailout, though, it also happens to be how much Americans waste each year on unnecessary healthcare expenses, says Arthur Garson Jr. for the Christian Science Monitor. If we took steps to save that money, just $100 billion would cover the uninsured and $600 billion would be left to help Wall Street.

Current healthcare spending in the United States totals $2.1 trillion, up from $1.3 trillion in 2000 (not adjusted for inflation). An estimated third of that is just waste: needless doctor visits, pricey drugs and inefficient paper billing systems.

The size and scale of the crisis taking place within our economy takes the place of any other reform at the moment. But, does this matter when you are not healthy? When the health care problem is once again a priority, these ETFs could benefit:

• SPDR Pharmaceuticals (XPH), down 17.3% year-to-date (black line)
• PowerShares HealthCare Services (PTJ), down 35.7% year-to-date (green line)