The cases involve one of the Affordable Care Act's three risk mitigation programs that were designed to shield insurers from losses, giving them a greater incentive to participate when the individual exchanges opened in 2014. Under the risk corridor program, which was designed to last only three years, insurers whose premiums exceeded consumers' claims paid into the fund, while their peers who didn't charge enough high enough rates could draw from it.
So insurers only received a fraction of the risk corridor payments they requested because the amount far exceeded what was contributed. That huge shortfall forced some smaller insurers to shut their doors and prompted some others to stop offering coverage on the exchanges. Read MoreInsurers sued the Department of Health and Human Services, saying they were owed more than $12 billion in payments.
Screw the health insurance companies!
So, going to Universal Health Care would eliminate the losses for these companies. Win win! For those people who are afraid they would lose their doctor, that would be the doctor's choice, not the government's.
Now go figure tRump say blame Obama
Can't fault them, it's hard to justify the existence of an entire sector, when it's been proven that tax payer based healthcare is far more efficient.
The tax breaks to Pharma should more than cover it. Pharma is a 300 Billion a year drug pushers and Dealers. If we dig enough the American tax payer probably giving them tax breaks like the 30 billion a quarter to the Oil Companies. Zero taxes but enjoy our Infrastructure
Who will pay that bill? That’s right you and I...The Trump Administration and Mitch McConnell made sure it would fail.
12b huh? Wait until we completely cut all fraudulent insurance companies out of the market. MedicareForAll
Sigh...
What about the money they’ve taken from Americans? Will there be an appeal from anyone on that?
What about the profits they make by looting American public? What a mockery of the system!
I'm a Canadian, someone needs to explain this to me. I can't fathom how this could possibly be happening. This is ludicrous. 🤦♀️
Another example of insurance companies trying to get rich and why BarackObama forced them into affordable care act.
Losses based on what?
More proof that Obamacare is bad for everyone
Go and tell them to get it from that idiot with big ears who put it into law.
What a joke the healthcare system in this country is.
Not sure why this is taxpayer fault. Their actuaries should have foreseen. Of course they didn't know how sick people were since they denied/refused/capped the sickest.
They lost 12 billion because of he changes to obamacare that trump made.
blitzntj1976 They should take it from Obama’s pension
$12 billion in 'losses' aka the profit off of playing with our health and lives.
lol....you made the deal with Barry to bad...
Losses?!!!
Insurance companies made enough money? They’re owed nothing
It's the cost of healthcare that needs to be looked at. Insurance costs are not as much of the problem. The whole system is broke.
How is the supreme court stacked right now?
I don’t blame the insurance companies for asking for more money, hospitals and doctors are the reason why we pay higher prices for insurance. Does the hospital really need to charge us 500 for an IV medication that only costed them a $1.50? Just saying
Real monsters are the hospitals and doctor that charge outrageous fees for their services!!! They keep everyone poor and in debt! For massive heartburn (thought I was having a heart attack) I had to pay was 100 deductible and my insurance co got a bill for 1000.
Fric them..they are the ones that approved Obama care and patronized the obamacare system by over charging the government with over speculative charges..now they want 12 bloom? They are screwballs
..and where'd the health insurance companies get that money?
It's a well planned joke on citizens of United States. The system is too corrupt and obviously failed on Grand level.
The insurance companies already make enough $ off the American people...they dont need no billion return.
I am going to laugh my ass off at all the obese/diabetic Trumpers that won’t be able to afford health insurance because R’s getting rid of preexisting conditions protections. Yes hurry up & do it before 2020.
🤮🤬
This is disgraceful, whatever losses they might have taken, they still make money hand over fist. The greed is reprehensible and disgusting! The Supreme Court should not give them the time of day.
I guess they're making the case for Medicare for All.
F**k them.
Oh good grief. Obscene.
🤣
Thanks Obama... more money lost
Drunk bums and junkies and their 6k a night hospital stays, Bc hey, it’s free!
Trumpgave it all back with his huge tax cuts for the largest of Corps and wealthiest of Americans. Greed
🤣🤣🤣🤣 Obama told them they’d make record profits under ACA. They made far less than if they’d stayed free market. They just figured it out. How many times does government have to screw up things before people realize government should stay out of things?
That must be the money in fines they had to pay for defrauding Medicare. They wrote the law in the first place.
Just make the insurance Co. pay 1st towards the 12 million deductible then pay 80% and let them still pay 20%.
Oh boo fucking hoo
Losses because people picked Obamacare instead of the predatory insurance. I thought having a choice is a good thing. What gives?
I hope they get everything they ask for
Now’s the best time to get this heard.
Let me grab my tissue. People die because they can’t afford basic healthcare.... but the insurance companies are crying bcs They can’t afford caviar on their private jets
Good. Obamacare is a disaster that doesn't provide care at all.
This and a racist VP is Obama’s legacy
But, Obamacare was supposed to be good for all!!
I hope this is fake news😂😂😂
another reason single payer is necessary: the self-entitlement and the gall of insurance companies.
Boy that's a gift that keept giving
I don't need no insurance somebody give me a beer
The Risk corridor rates were supposed to stabilize rates for the increased stress loads companies would undertake with the influx of preexisiting conditions. The rates were not high enough, causing premiums to skyrocket. They were so bad that all 22 new health co-ops shut down.
It was a big scandal
Go ahead. Encourage the undermining and public whipping of Obama Care in an effort to gain support for this great new healthcare plan we've been promised but have yet to hear about. WeSeeWhatYou'reTryingToDo.
Everybody lost from Osamacare.
Wah.
We told you
Insurance company losses? Funny that in Q2 of 2018 the top 6 insurers reported a 45% increase on profits of $6billion. And that just Q2. (CNBC). So yeah, let's sue the government cuz we hate socialism. Fuckers.
You lost nothing stop whining.
Stay poor, peasants!
When a big industry like this complains they lost a lot of money, it means it was actually working for the people, and not the corporations!
Senate Committee to propose pay caps for surprise medical bills.
Of course they did.... no political shadow here!😂
Obamacare ruined insurance for us all!
Maybe they can start a GoFundMe?
If the insurance companies win they should pay that $12billion back to individuals that they put through bankruptcy or lost their house or couldn’t pay bills
Rrrriiiiiigggghhhtttt
lol what.. the govement cost them money... you dont say.. lol and people want Medicare for all.. lmao thegovisnotainsuranceprovider
Just wait until we pass a Medicare for all Healthcare system. Then the real crying will begin.
This is what Trump world is like.....an industry who has pimped us to death literally, wanting retributions for those of us who survived. The fact in all this with the real pimp in the house, they gonna get paid. Trump's people will see to dat
Here we go. Just let the poor people die and get to business with making the rich richer.
What a joke !
Why? How exactly does this end up at SCOTU$ ?
So, since the headline contains the word “Obamacare”, many of you will immediately blame the ACA without knowing the facts. Read the article: it was actually republicans led by marcorubio who killed these payments promised to insurers if they agreed to be a provider.
What happened? Did they run out of other excuses for raising our premiums?
Shut them down. No more for profit health care. It's the dumbest thing ever invented
For the tears.............foh
Well shit maybe if they didn't try to profit off of life and death situations this wouldn't be a necessary thing for them to do
Obamacare the gift that keeps on giving.
This painting is a flat-out forgery! That’s typical of Obama’s flat-footed approach to things.
Why would the Supreme court even entertain this? Oh we know 💰.
And yet none of them have gone out of business and still hand out bonuses to upper management like they're Tootsie Rolls.
This is some bullshit
Obama = garbage
One look at the stock prices of United Healthcare, Human, and Blue Cross Blue shield from '09 - '19 show otherwise...
Wait, the INSURANCE companies have lost money? They increased my rates by 400% with higher deductibles and less coverage. But please, tell me about YOUR losses....
BarackObama your legacy
This is like the rapist suing the woman because she scratched him.
Obama WAS A FUCKEN JOKE ..
Make Obama pay.
from the companies that charge $600mth premium and $7,000 individual/$12,000 family deductibles before they pay out one cent.
maybe the SupremeCourt should hear them out these health insurance vampires work really hard sucking the lifeblood out of this country
Insurance companies have become welfare queens. But wait...
Aww poor insurance companies...I feel so sorry for you in your time of loss. But don't worry, keep on working 80+ hours a week and maybe you too can work your way out of this medical debt...
Hahaha is their any more reason to eat wealthy people