Requires HHS to establish, within 90 days of enactment – either directly or through contracts with States or nonprofit entities – a temporary high-risk health insurance pool program available to individuals with pre-existing conditions (as defined by HHS) who have been without creditable coverage for the preceding 6 months.
A qualified risk pool must meet certain rating, out-of-pocket limit and other standards. Sunsets on January 1, 2014, when Exchanges are available, and directs HHS to develop procedures regarding enrollees’ transition to Qualified Health Plans. Appropriates $5B for claims payments in excess of premiums collected as well as administrative costs. Effective March 23, 2010.