The Michigan Office of Financial and Insurance Regulation released details about a new high-risk pool that will offer insurance to the uninsured. To qualify the individuals must have been uninsured for at least six months, have been rejected by an insurer, and first spend $1,000 in out-of-pocket costs.
The purpose of the pool is to provide an avenue for the uninsured chronically ill to buy coverage until state exchanges are created by the federal health reforms in 2014. Policies in the pool will include low co-pays for drugs and services. However, services not covered in the pool include: dental, vision, nursing home, chiropractic care, hearing aids, and bariatric and cosmetic surgery. Enrollment begins in September and coverage starts in October.
The concern regarding the high-risk pool is the requirement that individuals pay $1,000 up front before receiving coverage. This provision may render the coverage unattainable for many chronically ill individuals.
For more information on health care reform, please visit www.wachler.com or contact a Wachler & Associates attorney at 248-544-0888.