SCOTUS To Consider $12B Obamacare Lawsuit
SUPREME COURT TO CONSIDER $12 BILLION LAWSUIT OVER OBAMACARE PAYMENTS TO HEALTH INSURANCE COMPANIES
(CNN) – Insurance companies claim they lost $12-billion under the Affordable Care Act.
Now the Supreme Court could decide if they can recover that money.
The cases involve a fund that was designed to protect insurers from losses.
Companies that set premiums too low were supposed to be able to take cash out to make up the difference.
But insurers say they only received a fraction of the payments they were owed and racked up huge losses.
They sued the Department of Health and Human Services.
Last year a Federal Appeals Court ruled against the insurers in the lawsuit.
On Monday, the Supreme Court decided it will hear an appeal.