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Patients with preexisting conditions may get break on premiums

07/05/11

The first of July marked an historic day for many people without insurance and with preexisting conditions. The U.S. Department of Health and Human Services announced in May that premiums for the federally administered Pre-Existing Condition Insurance Plan (PCIPs) will drop as much as 40 percent in 18 states across the country and the District of Columbia.

Eligibility standards will be eased in 23 states and D.C. to allow more Americans with pre-existing health conditions to have access to insurance, and possibly lower the number of life insurance claims by allowing individuals to have the ability to purchase medications and treatments. PCIPs were created under the Obama Administration's 2010 healthcare overhaul, according to the Washington Post.

Mississippi will reduce premiums by 2 percent, while several states and the District of Columbia will cut rates between 15 to 25 percent. In Virginia and six other states premiums will by lowered by 40 percent.

"Now the program has been up and running for six to nine months, and . . . we've had an opportunity to refine the methodology," Steven Larsen, director of the Center for Consumer Information and Insurance Oversight at the Department of Health and Human Services, told the media outlet.  

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