** Shares of U.S.-based hospital operators decline between 5% and 8% in early trading on Wednesday after Donald Trump wins second term at the White House

** Tenet falls about 8%, Community Health systems

falls 7%, Universal Health Services down 6% and HCA Healthcare down 5.3%

** A Trump win is a "slight negative" for hospital operators said Jeff Jonas, portfolio manager at Gabelli Funds

** Jonas said Trump is expected to be "less generous" with Obamacare subsidies that help reduce cost of premiums for people and will be stricter on the Medicaid insurance programs for the poor

** "You could see an increase in the uninsured or the bad debt and charity care that hospitals have to provide," said Jonas

** As of last close, THC shares have more than doubled in value so far this year, while HCA has risen 35.5%, CYH is up 41% and UHS has gained 47% YTD

(Reporting by Bhanvi Satija in Bengaluru)

((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91 9873062788;))