The precept is simple. If you have a medical condition that precludes you from obtaining medically underwritten health insurance and have been uninsured (for any reason) for at least 6 months, welcome to PCIP.
PCIP is guaranteed issue, regardless of your health. Not only will you be issued a policy but it will cover all your pre-existing medical conditions and their treatment.
A virtual health insurance panacea.
But the same folks that gave us Cash for Clunkers and sold 700,000 cars in 6 weeks can just barely get 20,000 folks into a health insurance plan designed just for them and this is after a year of sales pitches.
Even the recent 40% drop in premiums designed to lure in new participants appears to be sluggish.
But how well is PCIP working from a financial perspective?
I decided to ask that same of the folks at Google by entering a query for "PCIP loss reports". The first one that came up as a PDF from the state of Washington.
Here are some excerpts: