Oscar Health (OSCR) Rallies 16.51% Anew on New Medicare Proposal

We recently published a list of These 10 Stocks Boast Double-Digit Gains Amid Boring Market. Oscar Health, Inc. (NYSE:OSCR) is one of the best-performing stocks on Thursday.

Oscar Health extended its winning streak to a third consecutive day on Wednesday, jumping 16.51 percent to finish at $18.77 apiece as investors resorted to bargain-hunting following news that lawmakers are proposing a new measure that would allow individuals and employers to voluntarily enroll in a new version of Medicare.

Under the bill, lawmakers are looking to establish a “Part E,” a self-funded Medicare plan to be offered alongside private insurance across all states and federal marketplaces.

While this would heighten competition with private insurers, such as Oscar Health, Inc. (NYSE:OSCR), the voluntary enrollment could potentially delay or prevent Medicare’s insolvency.

A close up of a patient and a healthcare professional engaging in conversation, showing the company’s commitment to patient care.

Over the past few days, fears brewed over Medicare getting insolvent sooner than expected, with the cautious sentiment spilling over to stocks of Oscar Health, Inc. (NYSE:OSCR) and its counterparts.

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READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.