In late June, the Supreme Court of the United States released their decision on the highly publicized King v. Burwell case regarding the Patient Protection and Affordable Care Act. The Court considered two possible scenarios in its decision:
The Court’s decision states that subsidies will continue to be available for all eligible consumers who purchase health insurance through the exchange in all states, not just in those with state-based exchanges. Delaware has a “partnership” exchange where the state and federal government work together. There are a significant number of Delawareans currently receiving tax credits to reduce their insurance premiums for the plans purchased through the FFM (Federally-Facilitated Marketplace exchange). Delawareans were at risk of losing their tax credits had the Court ruled under the strict reading of the law.
Now, consumers who purchase health insurance coverage on their own need to focus on what to do next. Here are key dates that consumers should discuss with their agent or broker: