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HHS Announces Lower Premiums For PCIP Program

Washington Post  Reported a large decrease in the PCIP health insurance program. HHS has funded the program with $5 billion dollars so that they can reduce premiums.

IBJ Reported that so far only 18,000 people have enrolled into the plan. HHS was expecting 375,000.

The reality is the premiums for any high risk pool are high. They are high because the program can not sustain the high claims. 

For Indiana the premiums for the PCIP plans were already lower than the Indiana comprehensive health. So now with a premium reduction starting July 1st the new enrollment for the Indiana Comprehensive Health plan should stop. The only advantage now to the Indiana comprehensive plan is they will take anyone that has been declined. On the PCIP program you have to be without coverage for 6 months.

It will be interesting to see where the PCIP.gov rates go to.