News

Suit: Highmark owed $223M from feds under Obamacare

Written by The Associated Press | May 18, 2016 6:29 AM
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(Pittsburgh) -- Pittsburgh-based health insurer Highmark Inc. is suing the federal government saying it's owed about $223 million under the Affordable Care Act for losses in 2014.

Highmark has filed the lawsuit in a Washington federal claims court.

The health insurer says the government failed to follow its risk-corridors program, in which it promised to pay some of the losses insurers sustained during the first years of the new law.

Highmark lost more than $260 million in 2014 and $773 million last year.

The suit seeks payment for 2014 and promises of the same for 2015 and 2016.

The federal Health and Human Services Department last fall said insurers initially would receive about 12.6 percent for losses sustained in 2014.

An agency spokesman declined to comment.

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