U.S. Supreme Court Ruling Supports Tax Credits for Health Insurance
Millions of people who received tax credits to pay for health insurance will get to keep them. On Thursday, the U.S. Supreme Court ruled that the tax credits, offered on Affordable Care Act insurance policies sold through Healthcare.gov, are legal. The Court's decision in the case of "King v. Burwell" looked at whether the Affordable Care Act allows the government to offer insurance subsidies in those states that do not have their own marketplace exchange.
Those with coverage through Excellus BlueCross BlueShield are not impacted directly by this ruling because New York is one of about a dozen states that has its own marketplace exchange program, called NY State of Health.