Apr. 28--Grammar mavens can debate whether this constitutes irony or it's just a coincidence, but in the midst of a pandemic that already claimed 55,000 lives in the United States, the Supreme Court is yet again ruling on challenges to Obamacare. In a decision issued Monday, the court slapped down an attempt by congressional Republicans to shortchange insurance companies that offered policies through state health exchanges.
Fearing that insurers wouldn't participate because they didn't have historical data for rate-setting, the law's Democratic authors limited potential losses for insurers during the first three years of the program. If premiums didn't cover costs, insurers would be reimbursed. After partisan control shifted, Congress passed appropriations riders intended to block the promised payments.
There was nothing uncertain about the Supreme Court's assessment. Writing for an 8-1 majority, Justice Sonia Sotomayor succinctly cited "a principle as old as the nation itself: The government should honor its obligations." Indeed.
21 LPL Financial Advisors Named Forbes Top Women Advisors 2020
Advisor News
- Why advisors should offer retirement-longevity planning
- A hybrid approach outperforms the 4% Rule, researchers find
- The missing piece in most retirement plans
- Clients are bringing TikTok insurance advice into advisor meetings
- Embracing a family-centric approach to financial planning
More Advisor NewsAnnuity News
- The Manhattan Life Insurance Company Acquires Union Security Life Insurance Company of New York
- Cayman Islands premier to meet with U.S. reinsurance regulators
- Investigation finds deceptive sales, churning of annuities targeting postal workers
- Corebridge annuity sales slip ahead of Equitable marriage
- California teachers settle class-action lawsuit over in-plan annuity fees
More Annuity NewsHealth/Employee Benefits News
Life Insurance News
- AM Best Affirms Credit Ratings of PT KB Insurance Indonesia
- Westaim Reports Q2 2026 Results for the Quarter Ended June 30, 2026 and Leadership Update for Ceres Life Insurance Company
- Bismarck man convicted of insurance fraud involving dead wife sentenced to prison
- Insurers, rating firms push back on NAIC credit rating oversight plan
- The Manhattan Life Insurance Company Acquires Union Security Life Insurance Company of New York
More Life Insurance News