Supreme Court to review insurers’ Obamacare claims for $12 billion
The Supreme Court will decide whether insurance companies can collect $12 billion from the federal government to cover their losses in the early years of the healthcare law championed by President Obama.
The justices said Monday that they will hear appeals in the fall from insurers who argue that they are entitled to the money under a provision of the Affordable Care Act that promised insurers a financial cushion for losses they might incur by selling coverage to people in the marketplaces created by the healthcare law.
The companies cite Health and Human Services Department statistics to claim they are owed $12 billion.
But Congress inserted a provision in the department’s spending bill from 2015 to 2017 to limit payments under the “risk corridors” program.
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