US Government Offers High Risk Pools For High Risk Individuals Without Health Insurance
Anyone with a pre-existing condition knows the misery of trying to find health insurance.
But, thanks to a new government program, help may be on the way.
Beginning July 1, 2010, the federal government kicks off a new program offering affordable health insurance for uninsured Americans who suffer from pre-existing conditions.
Thanks to the health insurance legislation passed a couple of months ago, the government has set aside $5 billion for states to create pools of high-risk individuals.
These pools will serve as a gap measure before insurance exchanges are introduced in 2014.
The great news for individuals with pre-existing conditions is that there are no restrictions.
Anyone who signs up for the new program is immediately covered.
An added bonus? Low deductibles and co-payments with no coverage limits.
The new program will be a lifeline for individuals working in small businesses, where either they did not have health coverage at all, or were unable to get affordable care because their pre-existing conditions priced them out of affordable health insurance.
It's not unusual to hear stories of people stuck with upwards of $25,000 worth of medical bills when they finally finish treatment.
For many, this situation would have lead immediately to bankruptcy.
The high-risk health insurance pools should be able to offer an affordable alternative to individuals who found themselves at the brink of bankruptcy.
Unfortunately for some, the fine print of the law may get in the way of the low-cost coverage the government envisioned.
The law stipulates that premiums under the program need to be equal to the regular rate for health adults in each state.
While that would seem to be enough to keep premiums low, that's not the case in some states, such as California, where even health insurance rates for healthy individuals is not particularly affordable for many.
Worse, there are many who believe that the $5 billion set aside for the program isn't enough to get people to 2014.
One estimate suggests that that money will run out by 2012.
Since the law was meant to cover uninsured individuals, this leaves those who have recently lost their jobs out in the cold.
For these folks, they will have to somehow absorb the exorbitant pre-existing health insurance premiums.
Another concern is that only people who have been uninsured for six months or longer are eligible for the new pools.
That means the newly unemployed or those paying exorbitant premiums because of a pre-existing condition -- perhaps in their state's existing high-risk pool -- cannot simply switch to the more affordable high-risk pools.
How do you enroll in the new high risk health insurance pools? 1) Some states are running their own programs, while others are using the federal government's infrastructure.
Contact your state's insurance commissioner to determine how your state is running the program and the unique details for your location.
2) Pull together all of your documentation showing how long you've been without coverage and what your pre-existing conditions are.
These will be required when you make the application.
3) Start ASAP.
If the funding does, in fact, run out, you'll want to make sure you're one of the individuals who actually does get included in the program.
4) Check health insurance quotes for individuals with pre-existing conditions.
But, thanks to a new government program, help may be on the way.
Beginning July 1, 2010, the federal government kicks off a new program offering affordable health insurance for uninsured Americans who suffer from pre-existing conditions.
Thanks to the health insurance legislation passed a couple of months ago, the government has set aside $5 billion for states to create pools of high-risk individuals.
These pools will serve as a gap measure before insurance exchanges are introduced in 2014.
The great news for individuals with pre-existing conditions is that there are no restrictions.
Anyone who signs up for the new program is immediately covered.
An added bonus? Low deductibles and co-payments with no coverage limits.
The new program will be a lifeline for individuals working in small businesses, where either they did not have health coverage at all, or were unable to get affordable care because their pre-existing conditions priced them out of affordable health insurance.
It's not unusual to hear stories of people stuck with upwards of $25,000 worth of medical bills when they finally finish treatment.
For many, this situation would have lead immediately to bankruptcy.
The high-risk health insurance pools should be able to offer an affordable alternative to individuals who found themselves at the brink of bankruptcy.
Unfortunately for some, the fine print of the law may get in the way of the low-cost coverage the government envisioned.
The law stipulates that premiums under the program need to be equal to the regular rate for health adults in each state.
While that would seem to be enough to keep premiums low, that's not the case in some states, such as California, where even health insurance rates for healthy individuals is not particularly affordable for many.
Worse, there are many who believe that the $5 billion set aside for the program isn't enough to get people to 2014.
One estimate suggests that that money will run out by 2012.
Since the law was meant to cover uninsured individuals, this leaves those who have recently lost their jobs out in the cold.
For these folks, they will have to somehow absorb the exorbitant pre-existing health insurance premiums.
Another concern is that only people who have been uninsured for six months or longer are eligible for the new pools.
That means the newly unemployed or those paying exorbitant premiums because of a pre-existing condition -- perhaps in their state's existing high-risk pool -- cannot simply switch to the more affordable high-risk pools.
How do you enroll in the new high risk health insurance pools? 1) Some states are running their own programs, while others are using the federal government's infrastructure.
Contact your state's insurance commissioner to determine how your state is running the program and the unique details for your location.
2) Pull together all of your documentation showing how long you've been without coverage and what your pre-existing conditions are.
These will be required when you make the application.
3) Start ASAP.
If the funding does, in fact, run out, you'll want to make sure you're one of the individuals who actually does get included in the program.
4) Check health insurance quotes for individuals with pre-existing conditions.
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