Court rules insurers can collect $12B under health care law

WASHINGTON (AP) — The Supreme Court has ruled that insurance companies can collect $12 billion from the federal government to cover their losses in the early years of the health care law championed by President Barack Obama. The justices voted 8-1 Monday in holding that insurers are entitled to the money under a provision of the “Obamacare” health law that promised the companies a financial cushion for losses they might incur by selling coverage to people in the marketplaces created by the health care law. The case is separate from a challenge to the health care law that the court has agreed to hear in its term that begins in October.