Court rules insurers can collect $12B under health care law
By MARK SHERMAN, Associated Press
Published: April 27, 2020, 9:00am
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FILE - In this Jan. 24, 2019 file photo, the Supreme Court is seen at sunset in Washington. The Supreme Court has ruled that insurance companies can collect $12 billion from the federal government to cover their losses in the early years of the health care law championed by President Barack Obama. The justices voted 8-1 Monday in holding that insurers are entitled to the money under a provision of the "Obamacare" health law that promised the companies a financial cushion for losses they might incur by selling coverage to people in the marketplaces created by the health care law. (AP Photo/J. Scott Applewhite)
WASHINGTON — The Supreme Court ruled Monday that insurance companies can collect $12 billion from the federal government to cover their losses in the early years of the health care law championed by President Barack Obama.
Insurers are entitled to the money under a provision of the “Obamacare” health law that promised the companies a financial cushion for losses they might incur by selling coverage to people in the marketplaces created by the health care law, the justices said by an 8-1 vote.
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