(Bloomberg) — Humana Inc. rose to its highest value in more than 33 years on Monday, leading insurance stocks higher after proposed government cuts to the Medicare Advantage program were less than previously expected.

Humana, the second-largest Medicare Advantage insurer, jumped 11% to close at $113.69 in New York, its biggest single-day gain since March 2009 and its highest value since at least July 1980, according to data compiled by Bloomberg. The Standard & Poor’s Supercomposite Managed Health Care Index of 10 companies climbed 3.4%.

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