The federal government must fork over more than $12 billion to insurance companies that lost money by participating in the Affordable Care Act’s “risk corridors” program, the Supreme Court has ruled.
The decision rebuffs the Trump administration and Republican lawmakers such as Sen. Marco Rubio, a Florida Republican, who has characterized taxpayer funding to cover the shortfall as a bailout for the insurance industry. That’s because the “risk corridors” program gave participating insurers a special deal that limited their financial exposure for three years, starting in 2014.
