NEW: US Supreme Court rules that the federal government must pay a group of insurance companies that took a risk on selling coverage in Obamacare health exchanges and were promised that their losses would be covered.
WASHINGTON — The U.S. Supreme Court ruled on Monday that the federal government must pay a group of insurance companies that took a risk on selling coverage in Obamacare health exchanges and were promised that their losses would be covered.
"The Government should honor its obligations," Justice Sonia Sotomayor wrote for the court's majority. The court agreed with a lawyer for the insurance companies who said when the case was argued that the government's insistence that it had no obligation to pay amounted to"a massive government bait and switch."
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