Missouri High-Risk Pool Wins Federal Grant
Multi-Million Dollar Grant Award Offsets Costs of Health Insurance
Kansas City, MO (PRWEB) October 8, 2006
Executive Director Vernita Bridges received confirmation today that the Missouri Health Insurance Pool (MHIP) was awarded a $2.4 million grant from the Centers for Medicare & Medicaid Services (CMS).
“We are ecstatic to have won the first grant in the 15-year history of the Missouri Health Insurance Pool,” stated Director Bridges. “This is a great day for Missouri and the MHIP. The grant award boosts our ability to continue to provide health insurance to Missouri residents who cannot get conventional health coverage because of their health condition.”
The Missouri Health Insurance Pool is a state mandated high-risk health insurance pool established in 1991. Approximately 3,000 Missourians are enrolled with the MHIP program.
“While MHIP currently offers a benefit plan comparable to the standard market, we are unable to set the premium rates at a more affordable level due to statutory requirements. This grant award allows us to expand enrollment in the program to accommodate Missourians who need our plan, but cannot afford the premiums,” Bridges said.
Grant monies will be used to fund operational losses, offsetting expenses not covered by premiums collected from enrollees. “Premiums typically cover about 60 percent of the cost of the program,” noted Bridges. “Assessments on health insurers in Missouri fund the remaining 40 percent. There are no other funding mechanisms currently available for operation of the MHIP.”
The grant is part of the Bush Administration’s broad strategy for expanding access to health care for the more than 46 million Americans without health insurance. “This grant for the Missouri high-risk pool will help Missourians who otherwise might not be able to obtain insurance to get the health coverage and medical care they need,” Bridges said.
The MHIP website at http://www. mhip. org (http://www. mhip. org) provides complete information about the Missouri high-risk health insurance pool.
###