A U.S. Court of Federal Claims judge today backed efforts by Moda Health Plan Inc. to collect about $200 million in Affordable Care Act risk corridors program payments from the United States of America.
Judge Thomas Wheeler granted partial summary judgment in favor of the Portland, Oregon-based insurer. He said the federal courts have the authority to get the cash for the risk corridors program payments from the federal Judgment Fund.
Wheeler ruled that Moda Health has an implied-in-fact contract with the risk corridors program. He blasted the idea that the government has the right to refuse to make the risk corridors program payments because Congress changed program funding rules a year after the program managers had already described the terms of the arrangement to participating insurers.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Allison Bell
Allison Bell, a senior reporter at ThinkAdvisor and BenefitsPRO, previously was an associate editor at National Underwriter Life & Health. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached through X at @Think_Allison.
