Five million Americans in for premium spikes if Obamacare challenge is successful

The Washington Times reports:

A Washington-based consultancy estimated Thursday that 5 million Americans would see their health premiums spike if the courts rule in favor of a lawsuit that seeks to cut off Obamacare subsidies to about two-thirds of the states.

Consumers who purchased health plans on an insurance exchange run by the federal government would see an average premium increase of 76 percent if the plaintiffs prevail over the Obama administration, according to Avalere Health.

The suit, Halbig v. Burwell, argues the Affordable Care Act explicitly reserved subsidies for people who purchased a plan on an exchange “established by the State.” In real terms, that would mean the 15 exchanges set up and run by 14 states and the District.

The plaintiffs say Congress set it up this way to compel states to take responsibility for running their exchanges. But in 2012, the IRS unlawfully extended tax credits to all the exchanges, they argue.

The great moments of ObamaCare.