Trump Administration to Remove 750,000 From Obamacare Rolls, Cites Fraud; Insurer Stocks Fall

Vice President JD Vance announced on September 22, 2026, that the Trump administration will remove approximately 750,000 people from Affordable Care Act plans, alleging they were fraudulently enrolled. The administration is also suspending some ACA insurance brokers over fraudulent enrollments, including nonexistent people. Vance said officials will conduct additional verification on roughly 419,000 enrollees and estimated the move would save $2.2 billion in taxpayer funds, a figure that could not be immediately verified. Health insurer shares fell on the news. Centene Corp. dropped as much as 3.9%, Molina Healthcare Inc. fell as much as 3.5%, Elevance Health Inc. declined as much as 1.9%, and UnitedHealth Group Inc. slipped as much as 1.4%. Federal Obamacare marketplace enrollment opens November 1. Premiums are expected to rise, adding to affordability concerns ahead of the midterm elections.