Schwarzenegger signs bills creating insurance pool
SACRAMENTO, Calif. (AP) – Gov. Arnold Schwarzenegger has signed two bills designed to provide medical insurance for thousands of people who have been denied coverage because of pre-existing conditions.
The bills enable the state to collect $761 million from the federal government to create an insurance pool for people the insurance industry considers high-risk. The pool should help an estimated 25,000 to 30,000 individuals buy health insurance.
That’s only a fraction of the estimated 250,000 Californians who have been denied coverage because they have asthma, diabetes, cancer and other conditions.
The program is intended to help bridge the gap until 2014, when insurers will be banned from denying coverage to adults for such reasons. Under national health care reform, children with pre-existing conditions will be protected starting in September.