Insurance Companies Ask Supreme Court For $12 Billion In Obamacare Losses

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Daily Caller

• A coalition of insurance companies told the Supreme Court on Tuesday that the government must pay out $12 billion to help defray losses incurred on the Affordable Care Act (ACA) exchanges. 
• The ACA included a risk-sharing mechanism, which provides the government “shall pay” insurers to help cover any losses.
• Congress has not appropriated money to make those payments, however, prompting the case now before the high court. 

The Supreme Court seemed to agree Tuesday with arguments that Congress must pay out some $12 billion to health insurance companies as part of a program meant to mitigate risks caused by the Affordable Care Act (ACA).

The companies hope to collect those funds pursuant to a provision of the ACA that says the government “shall pay” insurers who incurred losses on the Obamacare exchanges. Despite that promise, Congress has not appropriated funds to compensate insurers.