Eaton Corporation Health Insurance

Ohio and 25 other states appeal health care law to US Supreme Court

Washington, D. C. -- The U.S. Justice Department and 26 states, including Ohio, filed separate petitions Wednesday that sought U.S. Supreme Court review of last year's controversial federal health care reform law.

The filings almost certainly set up a politically charged legal confrontation shortly before next year's elections.

The states question the legality of the Patient Protection and Affordable Care Act's demand that individuals maintain health insurance or pay a federal penalty, the law's expansion of Medicaid and its requirement that employers provide workers with a federally determined level of insurance or pay fines.

"The grave constitutional questions surrounding the ACA and its novel exercises of federal power will not subside until this Court reviews them," their petition says. "Time is of the essence. States need to know whether they must adapt their policies to deal with the brave new world ushered in by the ACA."

The Justice Department filing says the law's minimum coverage provision operates as a tax, and thus is "squarely within Congress' power to regulate interstate commerce, lay and collect taxes and enact legislation." It argues the mandate is necessary to keep taxpayers and insurance companies from footing bills for the uninsured.

Both parties are appealing an August ruling from the 11th Circuit Court of Appeals in Atlanta, which declared the individual mandate to be unconstitutional, but upheld the rest of the law.

"Throughout history, there have been similar challenges to other landmark legislation such as the Social Security Act, the Civil Rights Act, and the Voting Rights Act, and all of those challenges failed," said a statement issued by the Justice Department. "We believe the challenges to Affordable Care Act -- like the one in the 11th Circuit -- will also ultimately fail and that the Supreme Court will uphold the law.

P&F High Pole – EFR, EFT, EHI, ELP, EMC | Retirement Planning

EFR percentage change surged 1.83%, to close at $13.89 and its overall traded volume was 110,379.00 shares in the last trading session. EFR opened at $13.65 and is trading within the range of $13.65-$13.89. The 52-week range of the stock is $13.36 – $18.42. At current market price, the market capitalization of the company stands at $468.87M and it has 33.76M outstanding shares.

Eaton Vance Senior Floating-Rate Trust (the Trust) is a diversified, closed-end management investment company. The Trust’s primary investment objective is to provide a high level of current income. The Trust may, as a secondary objective, also seek preservation of capital to the extent consistent with its primary objective. The Trust invests at least 80% of its total assets in senior, secured floating-rate loans (senior loans). The Trust may also invest in second lien loans and high-yield bonds. The Trust may invest in Eaton Vance Cash Reserves Fund, LLC (Cash Reserves Fund), an affiliated investment company managed by Eaton Vance Management (EVM). The Trust invests primarily in below investment grade floating-rate loans and floating-rate debt obligations. Eaton Vance Management serves as the advisor to the Trust. EFT moved up 0.58%, to close at $13.99 and its overall traded volume was 80,685.00 shares in the last trading session. EFT shares were trading within the range of $13.84-$14.05 while its opening price was $13.94. The stock has a 52 week low of $13.51 and 52 week high of $17.99. The market capitalization of the company stands at $523.82M and it has 37.44M outstanding shares. Eaton Vance Floating-Rate Income Trust (the Trust) is a closed-end fund. The Trust’s investment objective is to provide a high level of current income. Its secondary objective is preservation of capital. The Trust invests at least 80% of its total assets in senior, secured floating-rate loans.

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