Tuesday, December 18, 2012

PCIP Dominos Begin to Fall

North Carolina's Pre-Existing Condition Insurance Plan (PCIP) is shutting its doors to new business:

Seems they've run out of funds, and the state legislature has closed the purse. Two classes of folks are "grandfathered in," however: folks who are HIPAA-eligible and those who are eligible for the Health Coverage Tax Credit.

Some observations:

First, I found it interesting that the Tar Heel state's program allows folks coming off of COBRA to sign up (even after February 1). Here in Ohio, one must be uninsured (no COBRA, etc) for at least 6 months before signing up.

Second, it's hard to imagine that this isn't just the first hole in the PCIP wall - once the other 57 states catch wind of this development, look for at least a few others to follow suit.

Third, I found this caveat chuckle-worthy:

"If you are currently enrolled as an Inclusive Health member, this does NOT affect you. Your coverage and your renewal, if applicable, will continue."

6 words.

[Hat Tip: Jeff M]
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