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Here’s why the NIB share price went ballistic today

Not many people will be celebrating the federal election result harder than shareholders in private healthcare providers NIB Holdings Ltd (ASX: NHF) and Medibank Private Ltd (ASX: MPL), after their shares rose 15% and 12% respectively today.

Investors are bidding the stocks higher as the shock Coalition win means more Australians are likely to be pushed into taking up private healthcare insurance policies as funding for the Medicare system could be scaled back. Moreover, it’s also possible a Coalition government pushes for more generous concessions to the allowable regulated premium increases on an annual basis.

Another healthcare giant in private hospital operator Ramsay Health Care Group Limited (ASX: RHC) also hit a 52-week high of $69.88 today on bets it will be a beneficiary of more people using private healthcare on the back of a Coalition government win.

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Motley Fool contributor Tom Richardson has no position in any of the stocks mentioned. The Motley Fool Australia has recommended NIB Holdings Limited and Ramsay Health Care Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.