Audet & Partners, LLP is investigating claims being asserted by an extensive list of U.S. health insurance companies that the United States government has reneged on its obligations owed to carriers under the Affordable Care Act (ACA”).
In 2010, Congress enacted the ACA in an effort to overhaul the U.S. health care system and better ensure health coverage for all Americans. In order to provide assurance to health insurers that their participation in this program would be financially viable, Congress built into the ACA specific risk corridor provisions that, in part, obligated the government to reimburse the companies if their losses realized in connection with their participation in ACA programs exceeded a certain level.
In 2014, however, Congress apparently reevaluated the government’s participation in this program and concluded that it constituted an ill-advised “bailout” of the insurance companies. At that point, Congress basically limited reimbursement from that point forward to approximately 12.6% of payments requested by the insurance companies. As a result, it is suspected that many health insurance carriers have suffered hundreds of millions of dollars in losses since 2104.
If you represent a U.S. health insurance company and believe that the government has reneged on its promise to provide risk corridor payments under the ACA, you are urged to contact a class action attorney at Audet & Partners, LLP for a free, confidential case evaluation and more information on the ACA Payment Lawsuit. We have extensive experience in many of the most significant class action lawsuits in U.S. history, and have recovered hundreds of millions of dollars both for businesses of all sizes, as well as for individuals. Please contact us either by completing and submitting the inquiry form on the right side of this page, or by calling us at (415) 508-6263.