Supreme Court to review insurers' Obamacare claims for $12B
WASHINGTON (AP) - 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 health care law championed by President Barack 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 "Obamacare" health law that promised insurers a financial cushion for losses they might incur by selling coverage to people in the marketplaces created by the health care 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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