A medical insurance Plan For The Uninsurable in California
Posted on Fri, Aug 13, 2010
Finally, it looks like a medical insurance plan may be put into place in California in September for people who have pre-existing medical conditions that have prohibited them from obtaining medical insurance. This plan is meant to be a bridge until 2014, when people with medical conditions will no longer be declined coverage or be rated up for it. Applications for this medical plan will be taken starting in late August.
This new government insurance plan is part of the health care reform legislation, and will help people with pre-existing conditions. California's Managed Risk Medical Insurance Board will run the program, and it is funded by the government, costing $761 million over a 3 year period.
Analysts have estimated that about 25,000 residents of California will be covered by this insurance plan at any one time...which is a lot higher than the 7,100 person maximum that California's current high risk pool covers.
To give you an example of the rates, in Ventura County for example, children up to the age of 14 will have a monthly premium of $127. People between the ages of 60 and 64 will have a premium of $720 per month. The plan is considered a comprehensive medical insurance plan, with a $1500 annual deductible, and an out-of-pocket limit of $2500.
Compared to the current high risk pool plan in California, a 42 year old person living in Ventura county would spend quite a bit less on the new government run plan, paying $304 per month compared to $657.50 on the current high risk pool plan.
To be eligible, you must not have had any insurance for at least 6 months, and have a pre-existing condition that prohibits you from obtaining private medical insurance. While it's still expensive and probably only beneficial to the middle class, it's a great first step for getting many uninsured the coverage that they need.
Please contact us at (877) 812-5111 if you need additional options for guaranteed issue medical insurance.