The Supreme Court ruled this morning that the federal government owes health insurers massive payments from an Obamacare program
The Supreme Court on Monday ruled the federal government owes health insurers massive payments from an Obamacare program shielding them from financial risks after the companies accused Washington of reneging on its funding promises.. Insurers who accused the government of a “bait and switch” claimed they’re owed $12 billion from the Affordable Care Act program.
"These holdings reflect a principle as old as the Nation itself: The Government should honor its obligations," wrote Justice Sonia Sotomayor the majority opinion. "Under the court’s decision, billions of taxpayer dollars will be turned over to insurance companies that bet unsuccessfully on the success of the program in question," Alito said in his dissent.brought by Republican-led states challenging the law’s constitutionality, which the Supreme Court has agreed to hear, likely later this year.
The Supreme Court case consolidated lawsuits brought by three small insurers, including one that blamed the risk corridors shortfall for its collapse in 2016. Today's decision will also benefit insurers who brought dozens of identical lawsuits in lower courts.
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