Colorado Pre-Existing Condition Health Insurance Plan (PCIP) Running Out of Money

If you live in Colorado and have a pre-existing condition and haven’t joined the Colorado Pre-existing Condition Health Insurance Program (PCIP), it’s time to start thinking about it. According to the latest figures, the Colorado Pre-existing Condition Health Insurance Program (PCIP) is running out of money and running out of money fast. The State of Colorado got $90 million to start its PCIP program in 2010. That money was supposed to keep the PCIP going until 2014 when health insurers will be required to accept all applicants regardless of pre-existing conditions.

Instead, one year into the program, the State of Colorado is already is pleading with the federal government for another $15 million to keep the PCIP going. Colorado has paid out $21.7 million in claims for 964 members of the PCIP pool, spending $22,500 per patient in the first year of the program. It’s a rate of spending that’s almost twice the national average of $11,500 for PCIP programs. (Besides Colorado, another eight states have asked for additional funds for their PCIP programs.

The PCIPs are a temporary measure which will continue until 2014, when health insurance must be offered to all Americans regardless of pre-existing conditions. Currently, Americans with pre-existing conditions are often denied health insurance coverage or are only offered health insurance which is prohibitively expensive.

If you’re a Coloradan with a pre-existing condition and haven’t joined the Colorado Pre-existing Condition Health Insurance Program (PCIP), it’s time to get on it! PCIPs are enrolling members on a first-come, first-served basis, so if you are at all interested in applying for a PCIP, we advise you to apply even if you are unsure if you qualify. More information on all of the state PCIPs is available at HealthCare.gov.

Have you thought about joining a PCIP? Tell us about it!

Related posts:

1. Only 600 Spots Available in Ohio Pre-Existing Condition Health Insurance Plan (PCIP)… Apply Now!
2. Michigan Cuts Premiums for Pre-Existing Condition Health Insurance Plan (PCIP) By 10%
3. Indiana Pre-Existing Condition Health Insurance Plan (PCIP) Cuts Premiums 26%
4. California Pre-Existing Condition Health Insurance Plan (PCIP) Cuts Premiums Up to 24%
5. Connecticut Pre-Existing Condition Health Insurance Plan (PCIP) Moves to Flat $381/Month Rate