State-Based Preexisting Insurance Plans Start Accepting Applications
State-based pre-existing condition insurance plans, mandated by the healthcare reform law, begin accepting applications in many states today, with coverage available as early as Aug. 1, according to a report by the Associated Press.
People unable to get private insurance due to pre-existing conditions will be able to buy coverage from these plans, also known as high-risk insurance pools, which are getting $5 billion in federal subsidies.
However, The Congressional Budget Office said it would cost another $5 billion to $10 billion to meet the expected demand of 700,000 people until 2014, when the plans will be replaced by outright bans on pre-existing conditions under the reform law.
Read the Associated Press report on healthcare reform.
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