The Obama administration's decision to delay the employer mandate provision of the Affordable Care Act for one year should have little impact on health insurer earnings in 2014, according to a number of Wall Street analysts. But it still raises concern about the implementation of the massive and complicated health care overhaul known as Obamacare.
"On the margin, it's certainly fair to argue that fewer people will be covered by employers next year," wrote Citi's Carl McDonald in a note to clients. "Remember, though, that we're talking about large employers, and almost all of them already offer coverage, so the number of large employers adding coverage wasn't going to be big anyway."
McDonald noted that 98 percent of employers with over 200 workers already offer insurance, according to a 2012 Kaiser Family Foundation survey.
(Read More: America's Self-Employed Caught in Obamacare Gaps)
"What it does is brings back to the fore the uncertainty that we have around Obamacare and the Affordable care Act," said Les Funtleyder, a health care fund manager with Poliwogg, and that could pressure managed care stocks.
"The uncertainty discount could go up," he said.