A disappointing response to the state’s high-risk health insurance pool has prompted the state to cut its rates by one-fourth.
The pool was set up in July, financed by money from the federal healthcare reform law, to provide coverage for people who could not get it through regular insurance companies. The regular companies had denied coverage because of pre-existing conditions.
Although financing is available for 1,000 applicants, only 250 people have applied. The program is intended to provide coverage until 2014, when the healthcare law will prohibit companies from refusing coverage because of pre-existing conditions.