Section 1311 of ObamaCare instructs state governments to set up an exchange. If a state refuses, Section 1321 lets the federal government establish an exchange in the state.
Yet ObamaCare states that the tax credit is available to people who are enrolled in an "an exchange established by the state under (Section) 1311." It makes no mention of people enrolled in federal exchanges being eligible for the tax credit.
Several states have refused to buckle down and create exchanges. How do residents of those states get their subsidies?
The bigger question is where the subsidy money will come from.
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http://www.investors.com/NewsAndAnalysis/Article.aspx?id=584085&p=1
