Special Coverage Medical Insurance Program
However, even after government subsidies the monthly premiums may be out of the reach of most of the people the program intends to help.
In addition, the program may be short lived because although $5 billion was allocated through 2013 for the Pre-Existing Condition Insurance Plan the money could run out considerably before that time.
On Tuesday an Obama administration official said that the plan will start to accept applications in a lot of states this Thursday and that people can check healthcare.gov beginning that day to see if it is currently available in the state where they live.
The administration’s goal is to make it available in all 50 states before the summer ends.
Stephen Finan, the policy director for the American Cancer Society Cancer Action Network advised people to “enroll as soon as you can.”
Although the premiums will vary from one state to the next, the premiums for a fifty year old with 15% co-insurance and a $1,500 annual deductible in states with relatively low medical costs could be approximately $400 per month. The same coverage in California is estimated to be $575 a month.
When discussing the rates, Finan said, “These rates are going to be as affordable as consumers can get these days, particularly for a high-risk individual.”
In order to qualify for this temporary program an applicant needs to have been uninsured for at least six months and must have a pre-existing medical condition. Only legal residents and U.S. citizens will qualify for the plan.
When 2014 rolls around the new health care law will supersede this plan.
When that happens most Americans will be required to carry insurance coverage. Virtually all low- and middle-income households will be eligible for government assistance with their health insurance premiums, and insurance companies will not be allowed to turn away anyone who is in poor health.
