Following Thursday's ruling from the U.S. Supreme Court, Illinois residents who bought health insurance under the Affordable Care Act -- also known as "Obamacare" -- will get to keep tax credits that cut the cost of their plans.
The question before the court was whether federal subsidies could be given out in states, including Illinois, that did not build their own online marketplaces.
Illinois uses the federal exchange at Healthcare.gov. More than two thirds of Illinoisans who purchased insurance through it receive the cost-cutting subsidies that average about $2,500 a year. If the ruling had gone the other way, more than 200,000 in Illinois who receive the assistance could have seen their premiums more than double. The coverage probably would have been unaffordable for many, and Obamacare could have collapsed.
At issue was the wording of the law. The court’s opinion said it was “implausible” that Congress intended for subsidies to apply only in states that built their own exchanges.
