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Money and Markets: Investing Insights

US Supreme Court Reviews Affordable Care Act — The Outcome Will Matter to YOU

Gavin Magor | Monday, April 2, 2012 at 7:00 am

“We will hear argument this morning in Case Number 11-398, Department of Health and Human Services v. Florida.” With these words Chief Justice Roberts started potentially the most important litigation to have been heard recently in this grand setting.

Whether you are a health care or insurance professional, a consumer or political junkie, the Court’s decision will ultimately affect you. For example, in early trading this morning, the shares of UnitedHealth Group (UNH), Humana (HUM) and Aetna Inc (AET) were up as much as four percent.

The State of Florida has, once again, inserted itself into the midst of political history. You’ll remember not too long ago, Florida’s Supreme Court was at the forefront in the controversial election of President, George W. Bush. Now, Florida is officially the lead plaintiff in this case. Florida’s Attorney General, Pam Bondi, and 25 other Republican state attorneys general are suing the federal government to overturn the health care law passed by Congress in 2010, asserting the law is unconstitutional.

Let’s not mince our words here. No matter what side of the debate you are on, this is a politically motivated attempt to overturn a Congress-approved and President-signed law.

Couched in terms of constitutional overreach, the debate is not about whether or not the Affordable Care Act (ACA) is actually good for the country or individual citizens. It is about federal government versus states rights.

In fact, both sides …

Read the complete story.

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