On Tuesday, a federal appeals court delivered a serious blow to President Obama‘s health care law that could potentially leave 6.5 million people without insurance and increase premiums by 75 percent.
From The Huffington Post:
In a case before the U.S. Court of Appeals for the District of Columbia Circuit, a group of small business owners argued that the law authorizes subsidies only for people who buy insurance through markets established by the states — not by the federal government.
A divided court agreed, in a 2-1 decision that could mean premium increases for more than half the 8 million Americans who have purchased taxpayer-subsidized coverage under the law. The ruling affects consumers who bought coverage in the 36 states served by the federal insurance marketplace, or exchange.
The majority opinion concluded that the law, as written, “unambiguously” restricts subsides to consumers in exchanges established by a state. That would invalidate an Internal Revenue Service regulation that tried to sort out confusing wording in the law by concluding that Congress intended for consumers in all 50 states to have subsidized coverage.
The administration is expected to appeal. For more information on who loses if Obamacare opponents win their lawsuit, click here.
SOURCE: Huffington Post | PHOTO CREDIT: Getty