Obamacare Court Ruling Could Take Insurance from Millions
Obamacare Court Ruling Could Take Insurance from Millions – A Supreme Court ruling that strikes down federal subsidies for health insurance would pull coverage away from millions of people who have it now and send premiums soaring, according to two reports issued Thursday.
The Supreme Court has agreed to hear a case challenging the 2010 Affordable Care Act’s provision that offers hefty federal subsidies to many people buying health insurance on the new federal and state health insurance exchanges. Just under 7 million people got health insurance that way last year and the Obama Administration said this week that 6.6 million have signed up for 2015.
The lawsuit claims that the government cannot subsidize policies bought on the federally run exchanges that 34 states are using. It cites the law’s wording. The case, called King v. Burwell, is scheduled to be argued on March 4 and a ruling is due by the end of June.
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