USA healthcare stocks drop after judge rules Obamacare unconstitutional

USA healthcare stocks drop after judge rules Obamacare unconstitutional

Indiana Attorney General Curtis Hill on a federal judge in Texas ruling ObamaCare is unconstitutional.

The landmark health care law does remain in effect for now, despite a ruling Friday in Texas that said that its individual coverage mandate is unconstitutional and that the rest of the law therefore can not stand. "While we are disappointed in the recent Northern District of Texas court's ACA ruling, we recognize that this is a first step in what will be a lengthy appeals process", the company said in a Monday statement.

The surprise decision Friday already has both sides of the debate posturing, with Democrats claiming the ruling is but a hiccup and Republicans suggesting this could be their chance, at last, to abolish the law - which remains largely in place despite President Trump's past claims to the contrary. Any noncompliance with the law may be challenged in other courts.

"A confirming Supreme Court Decision will lead to GREAT HealthCare results for Americans", Trump tweeted Monday.

The 2012 ruling, authored by Chief Justice John Roberts, held that the government cannot order people to purchase health care, but it can impose a tax on those who don't, and interpreted the mandate and penalty as the equivalent of a tax.

The White House on Friday said the law would remain in effect pending any appeal.

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Currently, the federal corrections system oversees about 184,000 inmates whose sentences range from less than one year to life. Those credits can then be used to gain an earlier release to a halfway house or home confinement to finish out their sentence.

Republican state officials, led by the attorney general of Texas, filed a lawsuit a year ago arguing that getting rid of the penalty rendered the mandate unconstitutional. The law still works without it. Congress in its wisdom has declared that it's severable, has said, look, we're going to keep the law but remove the mandate penalty. Finding further that the individual mandate is essential to the ACA as a whole, the court struck down the entire Act. While President Donald Trump and lawmakers such as incoming House Minority Whip Steve Scalise (R-La.) cheered the development, some in the party called for bipartisanship to address the failings of the country's health care system.

"In the near term, if the ruling were upheld, the loss of ACA-driven health insurance would eliminate the expanded Medicaid coverage that the ACA provided and hurt the individual market for health insurance that has helped millions of Americans", S&P said.

Supporters of the law immediately said they would appeal.

The coalition-which intervened in the lawsuit to defend the ACA after the Trump administration abandoned its defense of key provisions in the law, including those that require insurers to cover people with preexisting conditions-requested also that O'Connor enter partial final judgment or certify his decision. "Pending the appeal process, the law remains in place".

Once the mandate tax was removed, "there's no longer a constitutional basis for Obamacare".

Last year, Republicans - while attempting to repeal ObamaCare - ended up getting rid of the penalty. "Millions of people now rely on ObamaCare's subsidies and rules, which argues against judges repealing the law by fiat", the editorial board said. "We support efforts by Congress and the Administration to stabilize the ACA's programs and ensure continued protection of Americans with pre-existing conditions".

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