Premiums for new "high risk" pool could be steep

[red states rule]

I thought Obamcare was going to LOWER the cost of insurance?

OK BP, OCA, Gabby, PB - let the spin begin

President Barack Obama's new health coverage for uninsured Americans with health problems won't be cheap — premiums averaging $300 to $600 a month in the largest states, according to a government website that went live Thursday.

From cheaper to most expensive, premiums will range from a $140 a month to as much as $900, Richard Popper, deputy director of a new insurance office at the federal Health and Human Services department, said Wednesday.

The range is so wide because premiums will be keyed to standard individual health insurance rates in each state, which can differ dramatically because of medical costs and the scope of coverage. Also, older people will pay more.

"There are going to be meaningful premiums that are going to be required to stay in this plan ... in the hundreds of dollars," said Popper, with the Office of Consumer Information and Insurance Oversight.

Estimates on HealthCare.gov show premiums for a 50-year-old in Florida will be $552 to $675 a month; in New York the cost will average from $400 to $600; in Texas it's $491 to $600, and in Pennsylvania $283 on average. In many states, consumers can start enrolling immediately.

http://news.yahoo.com/s/ap/us_health...ing_conditions

and the government program will run out of money sooner then expected

WASHINGTON (AP) — The Obama administration is launching a special coverage program for uninsured Americans with medical problems this week, the most ambitious early investment of President Barack Obama's health care overhaul.

But here's the catch: Premiums may be a stretch for many, even after government subsidies to bring rates close to what healthier groups of people are charged.

And $5 billion that Congress allocated to the program through 2013 could run out well before that.

The Pre-Existing Condition Insurance Plan will begin accepting applications in many states on Thursday, with coverage available as early as Aug. 1, an administration official said Tuesday. Consumers can check availability in their states on a new website, healthcare.gov, starting Thursday. The goal is for all states to be enrolling people by the end of the summer.

The official spoke on condition of anonymity ahead of the administration's announcement later this week.

http://www.blackamericaweb.com/?q=ar...ica_news/19914