Rep. Rob Bresnahan sold stock in several Medicaid providers before voting for cuts
WASHINGTON— A week before he voted to significantly cut Medicaid, Rep. Rob Bresnahan dumped six figures’ worth of stock in a quartet of companies that manage nearly half of all Medicaid enrollees in the country, according to public disclosure documents reviewed by NBC News.
Bresnahan, R-Pa., who became one of the most prolific stock traders in Congress after he took office this year, offloaded up to $130,000 worth of stock in Centene, Elevance Health, UnitedHealth and CVS Health on May 15, the periodic transaction reports he filed with the House clerk in June show. Taken together, those four companies oversee roughly half of all Medicaid managed care organizations, according to the KFF, a health policy research organization.
Seven days later, on May 22, the House took its first vote on President Donald Trump’s mega bill, which slashed funding for Medicaid by nearly $1 trillion to help pay for tax cuts. Bresnahan, along with all but two House Republicans, voted in favor of the bill, which ultimately passed both chambers of Congress and became law this summer.
While Bresnahan has come under intense scrutiny for his stock trades, including for offloading the Centene stock, which was worth up to $15,000, the full breadth of his Medicaid-related trades ahead of his vote for Trump’s “big, beautiful bill” has not previously been reported.
https://www.nbcnews.com/politics/congress/rep-rob-bresnahan-sold-stock-medicaid-providers-vote-big-bill-rcna244859
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