High Risk Pool Bill Introduced in Ohio Senate |
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Written by U.S. Insurance News
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Monday, 20 October 2003 |
A High Risk Pool bill was introduced in the Ohio Senate on October 14, 2003. This bill calls for the creation of a High Risk Pool which will offer comprehensive health insurance benefits to individuals with preexisting health problems which precludes them from most health insurance coverage.
COLUMBUS, Ohio — A High Risk Pool bill was introduced in the Ohio Senate on October 14, 2003. This bill calls for the creation of a High Risk Pool which will offer comprehensive health insurance benefits to individuals with preexisting health problems which precludes them from most health insurance coverage. An estimated 11,000 Ohioans could access the High Risk Pool in order to obtain health insurance coverage.
If approved, the proposed legislation will:
· Protect Ohioans against catastrophic financial loss due to their inability to obtain insurance in the standard market.
· Stabilize or reduce the premiums in group and individual health insurance markets.
· Protect Ohioans who are unable to afford highly rated-up coverage.
· Offer older Ohioans with serious health problems the ability to be flexible in planning their retirement without fear of being without health insurance during pre-Medicare years.
· Offer Social Security Disabled citizens under the age of 65 the opportunity to obtain supplemental coverage.
· Eliminate confusing and expensive insurance continuation options by replacing Health Insurance Corporation (also known as HMO) open enrollment, HIPAA continuation after using COBRA, and annual individual open enrollment programs.
· Help preserve the assets of Ohioans who can afford to pay a premium but not self-pay the high cost of uninsured health care.
· Reduce the amount of uncompensated health care currently passed on to Ohio consumers.
"This legislation will allow all Ohioans access to affordable, comprehensive health insurance regardless of their current state of health," said Ohio State Senator Lynn Wachtmann, who also serves as Chairman of the Ohio Senate Health, Human Services and Aging Committee. "I am confident that this legislation which will favorably impact so many will be passed quickly."
The Ohio Association of Health Underwriters (OAHU) has taken a leadership role with this legislation because they see a lack of viable options for Ohioans not covered by mainstream insurance offerings. OAHU was instrumental in developing the wording of the legislation, and working with the appropriate parties to determine how the High Risk Pool will be implemented and managed. "OAHU is very proud to be involved with this legislation," said Denny Recker, OAHU representative. "Every day, OAHU members see the toll that not having affordable insurance coverage takes on families and children. This legislation will help ease the fears of those who are uninsured, allowing them to focus on taking care of their health problems."
People who typically seek coverage in a High Risk Pool are those who:
· have been turned down for coverage in the private market due to a chronic illness or condition
· have found they can only access restricted coverage due to their health
· have coverage that costs more than what is available from the pool
High Risk Pools are increasingly being recognized as a key mechanism to help provide for more stability in the individual health insurance market. High Risk Pools provide both the insurance industry and the general public with a means of spreading the costs of insuring the people in the pool on a broad and predictable basis.
Editor’s note: The complete text of the High Risk Pool Bill can be downloaded from: http://www.ohio-oahu.org/
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