Even better for the bulls, as we go into 2010 we will have seen the high-water mark of what Wall Street views as radicalism in Congress. That means you can see earnings per share increase and multiples expand for Humana (HUM), WellPoint (WLP), Aetna (AET) and Cigna (CI).

Talk about a monster quarter – WLP earned $1.53 a share, or $1.78 excluding one-time items, which is either a 16-cent or a 41-cent beat, respectively. While most of Wall Street fears health-care reform, Cramer doubts a new bill will hurt WellPoint all that much. At most, he predicted the company’s earnings per share would lose 10 cents, and that’s if there’s a loss at all. Regardless, WLP goes to $53 once the health-care debate is over, he said, no matter how it’s resolved.

He said he'd even short stocks such as WellPoint (WLP), Humana (HUM) and UnitedHealth (UNH), even though the long-term picture might be sound. He said people overreact when they hear the term "public option" and begin to short these stocks, and "Washington doesn't care what happens to stocks." In the end, Cramer said, it won't hurt the stocks, "but who wants to be long?"

The public option is back on board, thanks to Harry Reid, so the notion that health care is finished and that Washington can focus on creating jobs is now a total pipe dream. More pain for UnitedHealth Group (UNH), WellPoint (WLP) and Humana (HUM).

I have calls on Aetna (AET), UnitedHealth Group (UNH) and WellPoint (WLP), adds Karen Finerman.

Boorady likes Aetna because of its low-risk business, and is partial to WellPoint because of a low valuation. WellPoint should net $3 billion after taxes around year's end from the sale of its pharmacy-benefit-management business to Express Scripts, and plans to use the bulk of the proceeds for share buybacks.

Something similar happened in the chart for WellPoint (WLP), said Cramer, which had also been increasing. It also broke down below its 50-day moving average. Fitzpatrick thinks shareholders got nervous, worrying about the stock's lack of upside, and that the stock should be sold.

Because of these weakened reforms, Cramer said it's OK to buy health care stocks, including HMO's like Wellpoint (WLP), Medco Health (MHS) and Express Scripts (ESRX), a stock which he owns for his charitable trust, Action Alerts PLUS.

I continue to believe that Wellpoint (WLP), UnitedHealth (UNH), Cigna (CI), Aetna (AET) and Humana (HUM) can be bought off this Senate shift.

Wellpoint (WLP) remained Cramer's favorite healthcare name. He said this stock, which trades at just eight times earnings, should fetch 13 times earnings. He said the company is well-capitalized and is buying back stock to help bolster its share price.

growth at the expense of margins