‘High Risk’ Health Insurance Pool From September

In an attempt to cover the insurance needs of a large number of people in America, it has been decided that federally funded ‘high risk’ insurance pools would come into effect as soon as September 1. The decision comes as a reprieve for those who couldn’t afford private health insurances because of their pre-existing medical conditions. California is all set to be one of the first states to comply with this federal reform law.

As per the new policy, people who were earlier refused medical insurance on account of their chronic illness can now take advantage of the new ‘high risk’ insurance pool by paying much lower premiums. As stated by President Obama in an address to the American Nurses Association on Wednesday, “high risk health insurance pools would offer affordable insurance to sick people who were previously unable to obtain health insurance.” The pool will run in tandem with the state’s own existing pool and the state government will run and look after the programs.

The California government is expecting to receive $761 million for operating the ‘high risk’ federal health insurance program alongside the state’s present ‘high risk’ pool. However, adequacy of the money is being questioned by many health care experts, citing the fact that the money is nowhere enough or sufficient to deal with the huge number of uninsured people. Number of uninsured people in the U.S. is currently more than 50 million. About half of them suffer from some chronic health problems.

California plans to sign up residents for the federally funded scheme from September 1, 2010. Even though longevity of the program is arguable, it is definitely going to help a lot of people, analysts believe.

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