Obamacare: Premiums poised to spike for millions

Foreign off-shore banks destroying the finances of American families
Obamacare: Premiums poised to spike for millions

Image Credits: Joe Crimmings / Flickr

by Associated Press | July 22, 2014


A federal appeals court delivered a potentially serious setback to President Barack Obama’s health care law Tuesday, imperiling billions of dollars in subsidies for many low- and middle-income people who bought policies.

The Obama administration immediately declared that those policyholders will keep getting financial aid for their premiums as it seeks review of the ruling. White House spokesman Josh Earnest said the decision would have “no practical impact” on tax credits as the case works its way through further court appeals.

In the case, decided by the U.S. Court of Appeals for the District of Columbia Circuit, a group of small business owners argued that the law authorizes subsidies only for people who buy insurance through markets established by the states — not by the federal government.

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