The facility sector, which includes hospitals, may be the biggest beneficiary over the long term as bad debt should decline dramatically, said Loo of S&P. "Shorter term, they may be adversely affected because of the immediate costs involved."
Shares of First Trust Health Care AlphaDEX (FXH) were up 1.64% Monday. UnitedHealth Group Inc. (UNH) is among the fund's top holdings.
It wasn't a good day to be betting against the sector. Shares of ProShares UltraShort Health Care ETF (RXD) were down 1.96%.
Shares of SPDR KBW Insurance ETF (KIE) were virtually flat, down by 0.06%. Insurers will have to take all kinds of patients, including those with pre-existing conditions, said DeLegge. "It's going to result in more customers for them, but at the same time, some of those customers aren't going to be the kind of risk they want."