Millions are breathing a collective sigh of relief today (June 25), as the Supreme Court of the United States (SCOTUS) rejected the third lawsuit against the Affordable Care Act.
The act, also known as Obamacare, has supplied insurance to millions of previously uncovered Americans, but has been controversial because many conservatives believe that it imposes too many costs on businesses and is too intrusive in privately-owned companies.
The case, King vs. Burwell, held high stakes not only for those covered by the Affordable Care Act, but for all Americans with commercial insurance. Without financial assistance from the government in the form of subsidies to help with premiums, many Americans would have had to drop their coverage altogether, resulting in less revenue for insurance companies and forcing higher premiums for those they insure.
In a 6-3 ruling, two conservatives joined the four seated Democrats in rejecting the lawsuit. Justice Roberts delivered the majority opinion, stating that, despite opposition, "Congress passed the Affordable Care Act to improve health insurance markets, not destroy them."
This means, in lesser terms, that the Affordable Care Act is here to stay... at least until the next election. This doesn't mean, however, that there won't be changes coming down the pike. President Obama stated that he hopes to continue to make improvements including expanding coverage in more Red states. "What we will not do," he says, "is unravel what is now woven into the fabric of America."
What are your thoughts on today's ruling? Do you or someone you know benefit from the Affordable Care Act? Drop us a line below!