Pre-existing Condition Insurance Plan
Encyclopedia
The Pre-existing Condition Insurance Plan (PCIP) is a offers of health insurance
coverage to uninsured Americans who have been unable to obtain coverage because of a pre-existing health condition
. The PCIP will provide coverage to as many as 350,000 people and fill the gap until the Affordable Care Act goes into effect in 2014.
To be eligible, patients must have been denied insurance by a private insurance company because of a pre-existing condition, been uninsured for at least 6 months, and must be a U.S. citizen or a legal resident.
The Affordable Care Act provides federal funding to support Pre-Existing Condition Insurance Plans in every state and downloadable applications are available in the states where the U.S. Department of Health and Human Services is running the PCIP. In those states, coverage will begin on August 1, 2010 for applicants who apply by July 15, 2010.
The Pre-Existing Condition Insurance Plans are designed to provide affordable insurance to Americans with pre-existing conditions. The premiums for the Pre-Existing Condition Insurance Plans will be based on the standard cost of an individual health insurance policy in the health insurance pool’s geographic area and out-of-pocket maximums are limited to $5,950 for individuals and $11,900 for families.
Health insurance
Health insurance is insurance against the risk of incurring medical expenses among individuals. By estimating the overall risk of health care expenses among a targeted group, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to ensure that money is...
coverage to uninsured Americans who have been unable to obtain coverage because of a pre-existing health condition
Pre-existing condition
A pre-existing condition is a risk with extant causes that is not readily compensated by standard, affordable insurance premiums. Pre-existing condition exclusions by the insurance industry are meant to cope with adverse selection by potential customers. Such exclusions have become a topic in the...
. The PCIP will provide coverage to as many as 350,000 people and fill the gap until the Affordable Care Act goes into effect in 2014.
To be eligible, patients must have been denied insurance by a private insurance company because of a pre-existing condition, been uninsured for at least 6 months, and must be a U.S. citizen or a legal resident.
The Affordable Care Act provides federal funding to support Pre-Existing Condition Insurance Plans in every state and downloadable applications are available in the states where the U.S. Department of Health and Human Services is running the PCIP. In those states, coverage will begin on August 1, 2010 for applicants who apply by July 15, 2010.
The Pre-Existing Condition Insurance Plans are designed to provide affordable insurance to Americans with pre-existing conditions. The premiums for the Pre-Existing Condition Insurance Plans will be based on the standard cost of an individual health insurance policy in the health insurance pool’s geographic area and out-of-pocket maximums are limited to $5,950 for individuals and $11,900 for families.