Washington, D.C. – The U.S. Senate approved legislation this week that would provide funds to support state based programs to maintain health insurance pools for high-risk individuals, according to U.S. Senator Mike Enzi, R-Wyo., Chairman of the Senate Health, Education, Labor and Pensions (HELP) Committee.
“This bill would extend and improve a program that has provided critical assistance for states to help thousands of medically vulnerable Americans maintain lifesaving health coverage and avoid potentially devastating financial ruin. The bill would also help keep these individuals out of costly and financially beleaguered Medicaid programs,” said Enzi. “Wyoming has received money through one of these grants and I’m pleased that changes in the funding formula will assure that smaller states will get a fairer share of the distribution.”
The full Senate approved the “State High Risk Pool Funding Extension Act of 2005,” S. 288, unanimously Wednesday night. The HELP Committee unanimously approved the bill on February 10.
In 2002 the first federal grant funding for state high risk pools became available as part of the Trade Adjustment Assistance Reform Act (TAA).
The Wyoming Health Insurance Pool recently received about $357,000 as a grant from the Department of Health and Human Services under the TAA to help maintain Wyoming’s current high risk insurance pool.
The bill, which is waiting to be signed into law by the President, would provide and extend seed money and federal grants that support health insurance pools for high-risk individuals who, because of their health problems, cannot find coverage in the private insurance market.
Wyoming would benefit directly from the bill due to funding formula changes that assure smaller states get a larger share of distributed funds. The bill would also increase authorization for grants to existing risk pool programs from $40 million to $75 million per year through 2010. It would also extend through 2006, authorization for $15 million annually for seed grants to states without risk pools that wish to establish them. Adjustments would also be made under the bill in the way grant funds are allocated so each state would now receive an incentive to establish or improve its high risk pool. The bill would also create greater flexibility for the kind of state risk programs that can qualify for funds and allow more flexibility once those funds are allocated.
State high risk pools are state-created and funded initiatives designed to stabilize the state health insurance market and help a segment of the population that would otherwise be uninsured or on public assistance programs. They are established to provide access to health insurance for persons who are not covered under an employer plan or a government program and whose medical profile makes it very difficult or impossible for them to find coverage in the individual insurance market, according to Enzi.
“This bill would extend and improve a program that has provided critical assistance for states to help thousands of medically vulnerable Americans maintain lifesaving health coverage and avoid potentially devastating financial ruin. The bill would also help keep these individuals out of costly and financially beleaguered Medicaid programs,” said Enzi. “Wyoming has received money through one of these grants and I’m pleased that changes in the funding formula will assure that smaller states will get a fairer share of the distribution.”
The full Senate approved the “State High Risk Pool Funding Extension Act of 2005,” S. 288, unanimously Wednesday night. The HELP Committee unanimously approved the bill on February 10.
In 2002 the first federal grant funding for state high risk pools became available as part of the Trade Adjustment Assistance Reform Act (TAA).
The Wyoming Health Insurance Pool recently received about $357,000 as a grant from the Department of Health and Human Services under the TAA to help maintain Wyoming’s current high risk insurance pool.
The bill, which is waiting to be signed into law by the President, would provide and extend seed money and federal grants that support health insurance pools for high-risk individuals who, because of their health problems, cannot find coverage in the private insurance market.
Wyoming would benefit directly from the bill due to funding formula changes that assure smaller states get a larger share of distributed funds. The bill would also increase authorization for grants to existing risk pool programs from $40 million to $75 million per year through 2010. It would also extend through 2006, authorization for $15 million annually for seed grants to states without risk pools that wish to establish them. Adjustments would also be made under the bill in the way grant funds are allocated so each state would now receive an incentive to establish or improve its high risk pool. The bill would also create greater flexibility for the kind of state risk programs that can qualify for funds and allow more flexibility once those funds are allocated.
State high risk pools are state-created and funded initiatives designed to stabilize the state health insurance market and help a segment of the population that would otherwise be uninsured or on public assistance programs. They are established to provide access to health insurance for persons who are not covered under an employer plan or a government program and whose medical profile makes it very difficult or impossible for them to find coverage in the individual insurance market, according to Enzi.
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