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Either Way, Obamacare Ruling to Bring Big Changes

06-22-2015
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President Barack Obama's biggest domestic achievement faces a crucial vote at the Supreme Court this week.

A key component of the president's healthcare law, which is supposed to make insurance affordable for millions of Americans, could be deemed illegal.

Challengers want the court to determine whether Obamacare authorizes tax subsidies for millions of Americans.

If the court agrees with the opponents, some 6 million people could lose their tax credits to buy health insurance.

"If the court were to rule that the administration's interpretation was wrong, then there would be 34 states where people would no longer be able to get these tax credits for buying coverage on the exchange," Ed Haislmaeir with the Heritage Foundation, said.

That means the cost of health insurance could rise again. Depending on the state you live in, monthly premiums could jump by hundreds of dollars per month.

Some Republicans say they have legislation to help those who could lose health coverage if the Supreme Court rules against the administration.

Others say if the court strikes down the subsidy, then it's time to repeal Obamacare altogether. The Congressional Budget Office said that would actually grow the economy by .7 percent per year.

But if Obamacare continues, the Wall Street Journal warns of major consequences for the healthcare industry, including the potential creation of one massive healthcare system run by the government.

In an editorial entitled "Obamacare's Oligopoly Wave," the paper says America's five largest health insurers are thinking about consolidating into "one monster conglomerate," creating "oligopolies, with the predictable results of higher costs, lower quality, and less innovation."

"This is just one more example of a law that has all sorts of unintended consequences and adverse effects for all sorts of people," Haislmaeir said.

The court is expected to hand down its decision on Obamacare by the end of the month.

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