Blow me down! The high risk pools, an early feature of PPACA, are proving more costly (and, coincidentally, attracting fewer people) than anticipated:
An early feature of the new health-care law that allows people who are already sick to get insurance to cover their medical costs isn’t attracting as many customers as expected.
In the meantime, in at least a few states, claims for medical care covered by the “high-risk pools” are proving very costly, and it is an open question whether the $5 billion allotted by Congress to start up the plans will be sufficient.
Federal health officials contend the new insurance plans, designed solely for people who already are sick, are merely experiencing growing pains. It will take time to spread the word that they exist and to adjust prices and benefits so that the plans are as attractive as possible, the officials say.
Sounds to me like the experience with the reformed version of healthcare is pretty much what the experience with Medicare was forty years ago. It’s going to cost a lot more than the folks who voted for it expected. Or said they expected.