Teladoc News: TDOC Stock Pops 12% on Telemedicine Insurance Coverage Announcement

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Teladoc (NYSE:TDOC) news for Tuesday concerning a telemedicine insurance coverage announcement about the coronavirus from China.

Teladoc News: TDOC Stock Pops 12% on Telemedicine Insurance Coverage Announcement

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The announcement comes from Vice President Mike Pence. He revealed that many major insurance companies in the U.S. have agreed to waive copay for testing and surprise fees connected to the new coronavirus.

During this announcement, Vice President Pence mentions that this will also allow patients to speak with doctors remotely. Doing so reduces the risk of these people possibly spreading the virus further by heading out to the doctor.

Here’s Vice President Pence’s statement, as collected from The Hill.

“I’m pleased to report that as you requested, Mr. President, that all the insurance companies here, either today, or before today, have agreed to waive all copays on coronavirus testing, and extend coverage for coronavirus treatment in all of their benefit plans.”

That’s where this turns into Teladoc news. Teladoc is a company that specifically deals with telemedicine. It allows patients to connect with doctors and receive evaluations from them. If more people start going this route, that could be good news for Teladoc.

It’s also worth mentioning that other changes in legislation have worked in Teladoc’s favor. That includes the ability for some medicare recipients to make use of telemedicine. This specifically targets individuals in rural areas that would have to travel long distances for doctor appointments.

TDOC stock was up 11.73% as of Tuesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/03/teladoc-news-jumps-tdoc-stock/.

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