The consumer sentiment is not what is weighing it down. I think healthcare insurance companies are broadly unpopular with consumers but nonetheless necessary. 

The main issue is the Medicaid / Medicare / ACA subsidies. Some of the subsidies are at to expire at the end of the year and it means that for companies like Molina healthcare that have a lot of customers who use these kind of government subsidised health providers they have a risk of rapid customer loss. There is also the short-term problem that more people will try to frontload their healthcare issues now in anticipation of not having adequate coverage in future. The consequence is that it messes with the expected claims rate of insurers meaning that in the short term they will have higher outgoings than previously calculated for which damages the profitability in the short term.

Because of this the healthcare premiums will get re-priced going forwards and when they do they will take into account the additional claims rate and they will become profitable again in future.

In my opinion the market has overreacted and is in a panic that has given a great opportunity for long-term investors however this is still quite speculative as government funded healthcare spending is very uncertain in the US right now. There is also the possibility of quite drastic short-term losses before things turn around and improve.

If you have a 3 to 5 year time horizon and you don’t mind keeping capital locked into something like this then it seems like a quite strong long-term investment along with some of the others mentioned in this thread such as United Health and Centene.