** Hospitals and health insurers could broadly benefit from Democratic success in the 2026 midterm elections following the legislation passed under the 2025-2027 Congress, Cantor Fitzgerald analysts say

** Given Congress's focus on Medicaid and Marketplace plans, Molina Health MOH.N and Centene CNC.N broadly have the most to benefit from in a flipped House; and in providers, Universal Health Services UHS.N given its exposure to drug price programs, brokerage says

** If the House flips Democratic, it could slow the implementation of Medicaid work requirements, a potential repeal of provider tax legislation and could lead to a partial return of ACA subsidies- brokerage expects

** Of the 441 House seats up for election, 19 are seen as toss-ups, MOH has the highest exposure among insurers, with 72% of its Medicaid members in the 14 key states, while HCA leads among hospitals, with 68% of its facilities in those states- Cantor

** The brokerage’s base case assumes Republicans retain control of both the House and Senate, expects them to emphasize continuity in healthcare policy, "which is a favorable outcome for insurers as implications are around rebranding rather than a structural change, but has no benefit for providers"

** "Majority of pre-midterm polls indicate Democrats can flip the House, which is a positive for healthcare services' names broadly"- Cantor

** Up to last close, MOH up 17%, CNC up 60.1% and UHS down 32.8% YTD