Obama Health Care Ruling Due Before Election

NEW YORK ( TheStreet) -- The U.S. Supreme Court announced on Monday that it would hear oral arguments in March on President Barack Obama's 2010 major health insurance overhaul and pass a judgment in late June.

The Patient Protection and Affordable Care Act passed Congress in 2010 and aimed to extend health insurance to some 30 million Americans. In question is part of the law that requires individuals to be covered by 2014 or pay a penalty.
U.S. Supreme Court

"We are pleased that the court has agreed to hear this case," a White House spokesman said.

"In both public surveys and at the ballot box, Americans have rejected the law's mandate that they must buy government-approved health insurance, and I hope the Supreme Court will do the same," Mitch McConnell, Senate Minority Leader, said according to The Associated Press.

A federal appeals court in Richmond, Va., ruled that arguments about a law's validity were premature, as federal law typically prohibited challenges to taxes until they were paid, according to the AP. Because taxes and fees for penalty of not being insured won't be paid until 2015, then, according to the appeals court, this issue could not be disputed in court.

-- Written by Joe Deaux in New York.

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