Healthcare stocks climb after lawmakers strike a deal to save Obamacare payments

Democratic Sen. Patty Murray and Republican Sen. Lamar Alexander

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Democratic Sen. Patty Murray and Republican Sen. Lamar Alexander
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Chip Somodevilla/Getty Images

Healthcare stocks rose after a bipartisan deal was struck that would save Obamacare’s cost sharing reduction (CSR) payments from President Donald Trump’s axe.

Less than a week after Trump said his administration would put an end to these payments, Republican and Democratic lawmakers moved to formally appropriate the payments to insurers, which helps cover insurers’ costs for the mandated plans it provides to poorer Americans.

The preliminary plan would keep CSR payments flowing through 2019 and would restore $106 million devoted to outreach to get people to sign up for Obamacare plans.

Here’s a look at how the biggest healthcare companies are trading on Tuesday: