09:03 AM
The Supreme Court Rules on the Affordable Care Act: What It Could Mean for Insurers
1. The Individual Mandate Is a (Legal) Tax
"It is reasonable to construe what Congress has done as increasing taxes on those who have a certain amount of income but choose to go without health insurance … The federal government does not have the power to order people to buy health insurance. ... The federal government does have the power to impose a tax on those without health insurance.
— Chief Justice John Roberts, who wrote the majority opinion in the Court's ruling on National Federation of Independent Business et al v. Sebelius.
Source: The Supreme Court of the United States
Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio