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18th of May 2012

High risk health insurance pool in demand

Vicky Beckett 29/11/2011

A West Virginian high risk health insurance pool has sold 299 subsidised polices in four months.
 
The US healthcare reforms have led many states to create high risk pools for lower income families.
 
Premium subsidies of West Virginia’s high risk pool, AccessWV, were first offered members July 1,
2010.
 
On July 1 this year, subsidies were extended to those with household income to 400% of the federal poverty line (FPL).
 
By the end of October 2011 229 policies were subsidised, representing 24% total policies.   
 
56% of subsidised policies are those at 200% or less of FPL.  
 
Both AccessWV generally and subsidy recipients are over the age of 50, consistent with the prevalence of chronic disease.
 
Nancy Maleče, director of AccessWV  of West Virginia’s offices of the insurance commissioner, said that despite the subsidies being only available to lower income families, ‘a family of two would cost about USD 297,000.’
 
Maleče predicts the subsidies are being bought by those with assets. She said: “They are probably older people who have accumulated some assets but have not yet reached the retirement age.”

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Rain 11/12/2011 3:23am

Stellar work there eevroyne. I'll keep on reading.

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