California Pre-existing Condition Insurance Plan (pcip)
As a result of the new Federal Affordable Care Act of 2010, the state of California announced last month California's Pre-Existing Condition Insurance Plan (PCIP). The Federal Affordable Care Act of 2010 legislation is scheduled to begin in the year 2014. Last month Governor Schwarzenegger's office released Pre-Existing Condition Insurance Plan, as a plan to join the gap between now and the implementation of the Federal Program. The design of the PCIP is to make California Health Insurance obtainable to people despite of whether a pre-existing condition exists. $761 million in Federal Funds will go to Pre-Existing Condition Insurance Plan to benefit California Health Insurance in announcing this gap program.
California even now had an existing pool for helping Californian's that had been not able to acquire health insurance in the primary markets, to purchase insurance coverage. Major Risk Medical Insurance Program (MRMIP) is the state's current program. The PCIP program will manage by the MRMIP. The MRMIP program permitted anyone Health Insurance California coverage based upon a rate chart that took into account the county that you live in and your age. . Rates for the MRMIP graduate program are 110 % of the MRMIP rate cards. The Health Insurance coverage provided by the MRMIP and MRMIP graduate program have a largest annual benefit of seventy five thousand dollars and a seven hundred and fifty thousand dollar lifetime maximum. Looking at the MRMIP rate card for California Health Insurance and taking an example of a forty year old in living in the county of Ventura in California would have a monthly premium of $723.25 for an Anthem Blue Cross (PPO) or $435.16 for a Kaiser-South (HMO). Adding two or more dependents to the plan would raise the premiums to $1,664.96 and $1,295.92.
The differences between the MRMIP and the new PCIP are marked. It is requirement for both programs that you are a California resident and that you have either been dropped by a California health insurance company in the last twelve months or that the premiums that you were presented were higher than the state program. The primary distinction between the two health insurance programs is that the PCIP requires a Social Security number for participation and the MRMIP did not require one. The PCIP does not have options for dependent coverage and The MRMIP offered it. The PCIP program requires that you have been without health insurance coverage for the six months prior to you application. This means that anyone that is today on a MRMIP program is unqualified to apply for the PCIP program.
AdditionalFurther differences between the two health insurance programs are that the annual MRMIP deductible is $500 and the annual PCIP deductible is $1,500. The PCIP has a $500 deductible for brand name drugs while the MRMIP does not have one. Both plans have the same $2,500 annual Out of Pocket Maximum. The MRMIP has a three month pre-existing condition exclusion period, a $75,000 Annual Benefit Cap, and a $750,000 lifetime Cap and the PCIP does not have these.
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