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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.

45 million Americans under winter storm watches near New England

Computer model projection showing the winds moving around the powerful East Coast storm on Saturday Jan. 29, 2022. Image: https://earth.nullschool.net

Nearly 45 million Americans are under winter weather alerts and warnings from North Carolina to northeastern Maine, as a major winter storm threatens the region.

Why it matters: It is predicted to be the biggest blizzard since 2018 to strike the Northeast with more than 2 feet of snow possible in parts of eastern Massachusetts, according to the National Weather Service.

3 hours ago - World

Australian PM pledges $700M for climate change-threatened Great Barrier reef

A green sea turtle is flourishing among the corals at Lady Elliot island in Australia's Great Barrier Reef. Photo: Jonas Gratzer/LightRocket via Getty Images

Australian Prime Minister Scott Morrison announced Friday a AU$1 billion ($703 million) investment plan for the Great Barrier Reef.

Why it matters: The nine-year plan for projects including water quality improvement, reef conservation and supporting some 64,000 tourism jobs comes months ahead of this year's federal election. It has been criticized by scientists and environmental groups for failing to tackle climate change.