Law360, New York (September 15, 2015, 5:10 PM EDT) -- On June 25, 2015, the U.S. Supreme Court ended the latest legal challenge to the Affordable Care Act with its 6-3 ruling in King v. Burwell. With Chief Justice John Roberts writing for the majority, the Supreme Court held that individuals could continue to receive tax credits regardless of whether the individuals purchase insurance on a state or federal marketplace. Prior to the Supreme Court's decision, those receiving subsidies in the 34 states that had a federally created marketplace were at risk of losing their subsidies. Beyond the direct impact to individuals, a ruling invalidating the subsidies may have destabilized the insurance market, raised insurance rates across the board, and ultimately could have jeopardized the viability of the ACA in many respects — a scenario coined an insurance "death spiral" by commentators....
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