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Richard Drew / AP

Stock prices of four of the largest health insurance companies — Aetna, Anthem, Cigna and Humana — each dropped more than 1% on Tuesday while the rest of the stock market collectively lost about 0.25%. UnitedHealth Group bucked the trend and traded slightly higher, thanks to hefty second-quarter earnings.

Between the lines: The Senate health care reform effort is pretty much dead. And that means the Affordable Care Act's health insurer tax, which would have been repealed and is hated by the industry, is also scheduled to go back in effect next year. The big insurers and Wall Street want that tax repealed — it costs $145 billion over the next decade — even over changes to the individual marketplaces.

Go deeper

In photos: D.C. and U.S. states on alert for pre-inauguration violence

National Guard troops stand behind security fencing with the dome of the U.S. Capitol Building behind them, on Jan. 16. Photo: Kent Nishimura / Los Angeles Times via Getty Images

Security has been stepped up in Washington, D.C., and state capitols across the U.S. as authorities brace for potential violence this weekend.

Driving the news: Following the Jan. 6 insurrection at the U.S. Capitol by some supporters of President Trump, the FBI has said there could be armed protests in D.C. and in all 50 state capitols in the run-up to President-elect Joe Biden's inauguration Wednesday.

14 hours ago - Politics & Policy

The new Washington

Illustration: Sarah Grillo/Axios

The Axios subject-matter experts brief you on the incoming administration's plans and team.

Rep. Lou Correa tests positive for COVID-19

Lou Correa. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Rep. Lou Correa (D-Calif.) announced on Saturday that he has tested positive for the coronavirus.

Why it matters: Correa is the latest Democratic lawmaker to share his positive test results after last week's deadly Capitol riot. Correa did not shelter in the designated safe zone with his congressional colleagues during the siege, per a spokesperson, instead staying outside to help Capitol Police.

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