Healthcare ETFs Enjoy Rosy Outlook with Divided Congress

McConnell said senators would likely tackle Obamacare fixes and prescription drug prices, but changes to Medicare and Social Security won’t take place. Republicans have been working on a bill to repeal Obamacare, but after Democrats regained control of the House, any attempt will likely be stalled.

“I think it’s pretty obvious the Democratic House is not going to be interested in that,” McConnell said at a news conference. While there are “serious problems” with Obamacare, “We’re going to have to obviously now address those on a bipartisan basis.”

Given the votes are counted and the people put Democrats into the House, the Democratic party may have a more solid mandate to protect the current healthcare law.

“Democrats got control of the House. They have one mandate that I think voters sent them,” NBC political director Chuck Todd said on CNBC. “They better figure out how to protect pre-existing conditions.”

For more information on the healthcare segment, visit our healthcare category.