Supreme Court tells U.S. government to pay insurers $12 billion under Obamacare

WASHINGTON (Reuters) – The federal government must “honor its obligations” and pay private insurers $12 billion owed to them under an Obamacare provision aimed at encouraging them to offer medical coverage to uninsured Americans, the U.S. Supreme Court ruled on Monday. FILE PHOTO: The Supreme Court building exterior seen in Washington, U.S., January 21, 2020.REUTERS/Sarah Silbiger./File Photo The 8-1 ruling authored by liberal Justice Sonia Sotomayor paves the way for a significant one-time cash infusion for major companies such as Humana Inc, Anthem Inc and Centene Corp. The justices reversed a lower court’s ruling that Congress had suspended the government’s obligation to make such payments under the Affordable Care Act, widely known as Obamacare. Unlike other litigation involving Obamacare – long targeted by Republicans for repeal in Congress or invalidation through the courts – this case concerned only payments to insurers and did not directly challenge the law itself. The Supreme Court in its next term, which starts in October, is set to hear a more politically freighted case concerning a bid by 20 Democratic-led states including California and New York to preserve Obamacare in the face of a challenge by Republican-led states backed by President Donald Trump’s administration. [L1N2AV0MJ]… Read full this story

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