February 6, 2019 / 1:18 AM / 3 months ago

Insurers ask top court to restore Obamacare 'risk corridor' payments

The U.S. government has carried out a “bait-and-switch” by withholding $12 billion owed to health insurers under an Obamacare program aimed at encouraging them to cover previously-uninsured people, an insurer told the U.S. Supreme Court on Monday.

Moda Health Plan Inc and at least three other insurers separately asked the justices to review a June ruling by the U.S. Court of Appeals for the Federal Circuit, which found that Congress had suspended the government’s obligation to make the payments.

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