Nobody Should Get Rich Off Obamacare

For an industry that's supposed to be burdened by the launch of Obamacare, the health-care business is doing pretty well. Stocks of health-care companies are up almost 40 percent this year, the strongest performance of any sector in the S&P 500.

This is despite, for insurers, new regulations on the "medical loss ratio" which require them to spend at least 80 percent of premiums on health care -- in practice, capping their profits and administrative expenses such as advertising at 20 percent. How about the medical-technology manufacturers that were slapped with an excise tax? Doing just fine. Thehospital chains that face lower reimbursement rates from Medicare patients? They're doing well, too.