WASHINGTON: U.S. Supreme Court justices on Tuesday appeared sympathetic to claims made by health insurers seeking US$12 billion from the federal government under a program set up by the Obamacare law aimed at encouraging them to offer medical coverage to previously uninsured Americans.
Moda Health Plan Inc and other insurers that sued to try to compel the Department of Health and Human Services to make the payments have said the government was supposed to help them recover from early losses they suffered after the 2010 passage of the Affordable Care Act under Democratic former President Barack Obama.
If the Supreme Court sides with the insurers, it could result in a significant one-time cash infusion for major companies such as Humana Inc , Anthem Inc and Centene Corp , according to a note by Evercore ISI.
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