For the federal government, the potential damages could be far greater, as its reputation as a reliable partner to private businesses is on the line.
in 2016 and 2017, and contributed to several startup insurers going out of business.
The latest data shows the government owes insurers more than $12 billion in payments to cover losses on the insurance exchanges between 2014 and 2016. But the money taken in under the program fell billions short of the amount owed to insurers. The Obama administration told insurers that it would make up the difference with funds from the Centers for Medicare & Medicaid Services’ budget. The General Accountability Office, the investigative arm of Congress,The Trump administration argued the federal government never had power under the law to make the payments out of the CMS budget.
Experts say that could have a marginal effect on those insurers in setting future premiums. It could also force some plans to make rebate payments to customers based on another ACA provision that plans pay money back to members if they spend more than 20% of their premium dollars on administration, marketing and profits.
“This was a huge factor in the failure of the co-ops,” said Timothy Jost, a retired law professor at Washington and Lee University in Lexington, Va., who has studied the ACA. The U.S. Chamber of Commerce — a leading opponent of Obamacare — is defending the risk-corridor provision.
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