This earnings season has been one marked largely of disappointment for the insurance industry and increased grumbling over Obamacare. Many, including Aetna and Humana, have been critical of the insurance marketplaces, with both saying they don't expect to make, and may possibly lose, money on the exchanges.

Outside of the large insurers, smaller Medicaid and Medicare Advantage-focused stocks such as WellCare Health Plans are even more tied to the whims of Washington, D.C. And that can bring unfortunate surprises. WellCare reported disappointing fourth-quarter results, but the real shock was its expectations for 2014. Affordable Care Act fees are expected to be roughly $130 million this year for WellCare, sending full-year guidance to be 20% lower than analysts estimated. Management had no problem laying the blame at the feet of Obamacare.

In this video, David discusses what went wrong with WellCare and why the sour news for the industry could make for a potential buying opportunity.

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