All About High-risk Insurance Pools
As of 2008, 33 states in the Union have what are called "high-risk health insurance pools." Another 12 states provide coverage to medically uninsurable individuals by other means. These programs are largely paid for and spearheaded by each state but are privately administered. Some states have more high-risk coverage than other states. You can check with the National Association of Health Underwriters to determine if your state has a high-risk insurance pool. In some cases, if you're eligible, you may also qualify for a 65% health insurance tax credit upon enrolling in a high-risk health insurance pool.
How Much Does High-Risk Health Pool Coverage Cost?
Due to the fact that high-risk pools are comprised largely of individuals who generally can't be insured on the open market, the costs of these plans are much higher than the average premium. Still, many states have enacted laws that cap the rates so they remain relatively affordable. On average, such rate caps range from 125-150% of the base individual market rate (the average rate paid by the average person who has a health insurance policy).
What Types of Conditions Generally Require a High-Risk Health Insurance Pool?
The most common condition for high-risk health insurance pools are HIV/AIDS, terminal cancer, and other conditions that would be considered "pre-existing" in the open market. In order to qualify for most high-risk health insurance pools in a state, an individual should be ineligible for any privately available, individual health insurance policies.