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The Supreme Court on Wednesday will hear oral arguments in King v. Burwell, the most serious challenge to the Affordable Care Act (a.k.a. Obamacare) since the justices upheld it as constitutional almost three years ago. Here’s how this works. (Barnes, 3/4)

At issue is whether millions of Americans who receive tax subsidies to buy health insurance are doing so illegally. If the justices rule that the payments are not allowed, the entire health-care law could be in jeopardy. The latest showdown between the Obama administration and the conservative legal strategists who have targeted the law since its passage in 2010 focuses on a once obscure phrase in the legislation: “established by the State.” (Barnes, 3/4)

Round 2 in the legal battle over Obamacare hits the Supreme Court's intellectual boxing ring Wednesday. In one corner is the Obama administration, backed by the nation's hospitals, insurance companies, physician associations and other groups like Catholic Charities and the American Cancer Society. In the other corner are conservative groups, backed by politicians who fought in Congress to prevent the bill from being adopted. (Totenberg, 3/3)

The U.S. Supreme Court will weigh a second major case targeting President Barack Obama's healthcare law on Wednesday when it considers a conservative challenge to tax subsidies critical to the measure's implementation. The case is set for a one-hour oral argument starting just after 10 a.m. ... with a ruling due by the end of June. (Hurley, 3/3)

President Obama's health care law squeaked through the Senate in 2009, the House in 2010 and the Supreme Court in 2012. Wednesday, the high court will consider whether it can survive its infancy. The case is far narrower than the one brought — and nearly won — by opponents three years ago. Opponents of the law claim it allows health insurance premiums to be subsidized only in states that set up exchanges, or online marketplaces. If the court agrees, those subsidies can't continue to flow to residents in at least 34 states that use a federally operated exchange. (Wolf, 3/3)

The case, by the numbers: 4: Words in the law that are in dispute ("established by the state"); 34: States using the federal health insurance exchange, where tax credits could be eliminated; 9.3 million: People who would lose tax credits if the court sides with the law's opponents; 8.2 million: People at risk of becoming uninsured. (Wolf, 3/3)

The fundamental question facing the justices in the latest challenge to the 2010 Affordable Care Act has nothing to do with health care: how to interpret a tiny snippet – specifically, four words — embedded in the voluminous law. First, some background: Congress in the law authorized the government to provide tax credits for insurance purchases by middle- and low-income people. The credits are vital to the program. (Jones, 3/3)

The arguments could provide hints about whether the justices believe the law does not authorize the government to provide federal subsidies for Obamacare beneficiaries in the 34 states that didn't establish their own exchange. If the Court ultimately rules against the Obama administration, more than 5 million individuals will no longer be eligible for the subsidies, shaking up the insurance market and potentially dealing the law a fatal blow. (de Vogue, 3/4)

The Affordable Care Act, a.k.a. Obamacare, dodged a bullet in 2012 when the Supreme Court upheld the individual mandate. Wednesday, it faces a second major legal challenge; this one to the taxpayer-funded premium subsidies that underpin the entire law. (Dwyer, 3/4)

People sometimes wonder why David M. King would fight health insurance subsidies all the way to the Supreme Court, which is scheduled to hear his case on Wednesday. Even his sister is puzzled. Asked what motivated her brother, who is the lead plaintiff in the latest challenge to the Affordable Care Act, Deborah K. Siebols said: “I don’t have any idea. I am clueless. He’s my brother, but we are so opposite in our beliefs — have been all our lives. We don’t discuss politics.” (Pear, 3/3)