Economists, State Officials Make Predictions, Brace For High Court’s Decision On Health Law Subsidies
A number of economists predict a ruling upending the health law would lead to billions of dollars in lost health care spending. Meanwhile, state officials brace for the impact of such a decision.
Reuters:
Economists Predict Shockwaves If Obamacare Subsidies Are Nixed
As the U.S. Supreme Court prepares to rule on whether people in 34 states can continue to receive Obamacare health insurance subsidies, economists are projecting billions of dollars in lost healthcare spending for hospitals, drugstores and drugmakers if the justices say the payments are illegal. The immediate consequences of such a ruling would fall on the 6.4 million people who receive the subsidies and live in states that did not establish their own insurance exchanges under President Barack Obama’s healthcare law, instead relying on the federal HealthCare.gov website. (Begley and Humer, 6/17)
The Associated Press:
Wyoming State And Health Industry Officials Brace For Ruling
Insurers and government officials in Wyoming are bracing for an impending U.S. Supreme Court ruling on a challenge to the Affordable Care Act that could leave thousands of state residents without health coverage. ...If the Supreme Court rules against the federal exchanges, [Insurance Commissioner Tom] Glause said Wyoming's options range from doing nothing and seeing if Congress comes up with a solution through trying to create its own state marketplace or possibly partnering with other states. He said it would be untenable for the state to try to pay the cost of the current federal subsidies — about $8.4 million a month. (Neary, 6/17)
The Charlotte Observer:
NC Insurance Commissioner Warns Of 'Chaos' That Could Result From ACA Supreme Court Decision
An imminent decision from the U.S. Supreme Court on subsidies under the Affordable Care Act could unleash “incredible chaos” in North Carolina’s health care market, N.C. Insurance Commissioner Wayne Goodwin predicted Wednesday. Goodwin said the shock waves of invalidating health insurance subsidies would go far beyond the 458,738 North Carolinians who count on financial aid under the health care law. The fallout could ultimately drive some insurance companies to stop selling policies in the state, Goodwin said, leaving legions of residents stranded without coverage. (Murawski, 6/17)
The St. Louis Post-Dispatch:
Missouri, Unlike Other States, Has Limited Options If Health Subsidies Struck Down
As the country braces for a decisive U.S. Supreme Court ruling on the future of the Affordable Care Act, some states are taking steps to prepare for the potential fallout. But not Missouri. Hampered by a law that was adopted before the current legal challenge took shape, Missouri officials are left to scratch their heads as health insurance for 200,000 residents hangs in the balance. (Shapiro, 6/17)
