The Federal High Risk Health Insurance Pool May Be Coming To A State Near You!
Declined For Health Insurance
As one of the first steps towards health reform, the federal high risk health insurance pool is moving in to many states as an alternative to the current high risk health plans for people who have been declined by private insurers. In the long run, by 2014, this system should be replaced by health insurance exchanges that cannot decline because of prior health issues and cannot add rate increases because of health. This step is a transition, and should give a lot of people some relief that they need right now.
Note: Individual Health Insurance Quotes in Your State
Keep in mind, that each state has different ways of serving high risk individuals with pre-existing conditions. But judging by my own state, it looks like this may be a friendlier system with lower premiums and no waiting periods for qualified applicants. The current system in my state, for example, can impose a 12 month waiting period for pre-existing conditions under some circumstances, and has premiums that are twice the market rate that people who were accepted into private medical plans would pay.
The government has allocated $5 towards the federal high risk health insurance system. The idea behind it is to expand coverage for people with pre-existing conditions while removing some barriers like a very high cost or waiting periods. They will not do away with the state programs, at least not right away. One state website informs peope to check out both programs to see which one will serve them better right away.
How To Learn About the Federal High Risk Pool In Your State
Apparently states are all phasing in this program, and some are behind schedule. A quic search for the high risk health plan in your state should take you to a website with the information you need. You can aso visit this Department of Heath and Human Services High Risk Health Tip Sheet for more information.
You can also find contact information for the state insurance departments here.
Basic Criteria for the Federal High Risk Program
- Be a US Citizen, National, or Legal Resident
- Not Have creditable coverage for the previous 6 months
- Have a qualified pre-existing health condition
The rate is capped at the standard rate which a regular applicant would pay for individual major medical. This is subsidized, for now, by $5 Billion dollars of federal funds.
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Democrats and Republicans all agree we need some more relief for people with pre-existing conditions. This isn’t perfect but it should help more people who are already sick.