Supreme Court To Rule On Obamacare Subsidies: Report

The U.S. Supreme Court will rule on a new challenge to the Affordable Care Act that examines whether subsidies offered under the law are legal, the Associated Press reported Friday. The high court will take a look at a federal appeals court ruling that said Internal Revenue Service regulations allow health-insurance tax credits in all 50 states. Opponents of the law are challenging whether the rule applies to states that have not set up their own exchanges, which applies to roughly half the nation. The court upheld Obamacare in 2012, ruling that penalties for not obtaining medical insurance could be considered a tax.