Miller & Chevalier held a discussion of the Supreme Court case challenging the availability of federal premium tax credits for coverage obtained on federally-facilitated Exchanges (FFEs). The Fourth Circuit in King v. Burwell upheld Internal Revenue Service (IRS) rules extending the tax credits to FFE coverage, and the Supreme Court has agreed to review the decision. The Supreme Court heard oral argument on March 4, 2015. Many commentators have suggested that a Supreme Court decision reversing the Fourth Circuit would cripple the operation of the FFEs and seriously threaten the overall viability of the Affordable Care Act (ACA). In the presentation, Anthony F. Shelley, a Member of Miller & Chevalier, whose practice focuses on ACA, employee-benefit and appellate matters, reviewed the issues in the case and the arguments raised in the parties' briefs and in the amicus briefs. In addition, and most importantly, Tony read the "tea leaves" from the oral argument and analyzed in which direction the Court might be leaning. And he served up a prediction as to the final result.