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Photo: Drew Angerer/Getty Images

The federal government must pay health insurance companies roughly $12 billion that they're owed under part of the Affordable Care Act, the Supreme Court ruled Monday in an 8-1 decision.

The big picture: The ACA's "risk corridors" program was designed to help stabilize the law's insurance markets in their early years, but the Trump administration argued that Congress had prohibited it from making the required payments. The Supreme Court disagreed, saying insurers have a right to collect the money they're owed under the program.

Go deeper

Jul 30, 2020 - Health

Ruth Bader Ginsburg recovering after non-surgical procedure

Supreme Court Justice Ruth Bader Ginsburg. Photo: Shannon Finney/Getty Images

Supreme Court Justice Ruth Bader Ginsburg is resting in a New York City hospital Wednesday evening following a minimally invasive, non-surgical procedure to replace a bile duct stent, the Supreme Court announced in a release.

Why it matters: Ginsburg has had health complications in recent years, including reoccurring liver cancer. This is her second hospital trip this month. The first hospitalization followed a possible infection.

GOP implosion: Trump threats, payback

Spotted last week on a work van in Evansville, Ind. Photo: Sam Owens/The Evansville Courier & Press via Reuters

The GOP is getting torn apart by a spreading revolt against party leaders for failing to stand up for former President Trump and punish his critics.

Why it matters: Republican leaders suffered a nightmarish two months in Washington. Outside the nation’s capital, it's even worse.

Erica Pandey, author of @Work
3 hours ago - Economy & Business

The limits of Biden's plan to cancel student debt

Data: New York Fed Consumer Credit Panel/Equifax; Chart: Axios Visuals

There’s a growing consensus among Americans who want President Biden to cancel student debt — but addressing the ballooning debt burden is much more complicated than it seems.

Why it matters: Student debt is stopping millions of Americans from buying homes, buying cars and starting families. And the crisis is rapidly getting worse.