The stock prices of insurance companies have increased 15 times since the passage of the Affordable Care Act.
Posted by The Joe Rogan Experience, Checked
- Sources
- 4 contradict
- Said
- 1 time·
- Confidence
- 60%
The Joe Rogan ExperienceNov 6, 2026
The claim that insurer stock prices rose 15 times since the ACA overstates the record. Sources show real, large gains, but the group figures run roughly 5x to 11x, and only UnitedHealth approaches 13x, so the claimed magnitude is roughly double the record or more.
What was said
… Like, it's now 25% of the US economy is healthcare. It was written by the insurance industries. It created a thing where you can raise premiums and get 15% of a larger and larger pie, created a direct incentives, and the stocks of insurance companies have gone up 15x. Like, like, like, like, that was the great liberal popular. It was, it was a worst, worst law in American history, exploded healthcare costs. …
The Joe Rogan Experience · · from the transcriptPost →What we found
Contradicts. PolitiFact reports UnitedHealth up 1,177% from March 2010 to November 2025 (about 12.8x), while the other six major insurers rose between 414% and 859%, which is well short of 15x (1,400%).[1][2]
Contradicts. Paragon Institute reports a market-value-weighted average of health insurer stocks up 1,032% from 2010, roughly 11x, which is still below the claimed 15x.[3]
Contradicts. Factcheckjoe rates the claim Distorted, stating that insurer stocks rose a lot but not 15 times, with UnitedHealth about 13x, other big insurers about 5x to 8x, and an industry-weighted average about 8x.[4]
Supports. Major health insurers did see very large stock price increases over roughly 15 years, with the sources reporting gains in the 400% to 1,200% range.[1][2][3]
Context. PolitiFact's ruling on the related claim is half true, noting that the cited charts stop in 2024, ignoring recent stock declines, and that Trump exaggerated the scale of the gains.[1][2]
Sources
4 sources: 1 fact-checker, 3 not rated
- 1Trump exaggerates growth in health insurers’ stock pricespolitifact.com · fact-checker · cited for: contradicts, supports, context
- 2Fact check: Trump said insurance companies' stock prices ...houstonchronicle.com · not rated · cited for: contradicts, supports, context
- 3Insurer Stock Prices Soaring After Giant ACA Subsidiesparagoninstitute.org · not rated · cited for: contradicts, supports
- 4Distorted: Insurance company stocks have risen 15 times in value since the passage of Obamacare.factcheckjoe.com · not rated · cited for: contradicts
Where this claim was made
Said in 1 published post