Sen. JD Vance of Ohio, during the vice presidential debate, promised to protect health insurance for people with pre-existing conditions while proposing a high-risk pool for them. This approach raised concerns among experts, highlighting the failures of similar programs before the Affordable Care Act.
Before the ACA, high-risk pools provided coverage for chronically ill individuals who were deemed uninsurable by conventional insurers due to high costs. These pools aimed to lower premiums for sick patients by sharing the financial risk.
However, high-risk pools were underfunded, resulting in double premiums for some individuals and coverage exclusions for essential care. The ACA shifted to a single-risk pool model to promote affordability and avoid these pitfalls.
Experts suggest that a return to high-risk pools would require substantial government subsidies to be effective. Without adequate funding, the system would burden sick individuals with higher costs and limited coverage.
In conclusion, the consensus is that broad risk-sharing is essential for affordable healthcare coverage, emphasizing the necessity of a collective approach to ensure sustainability and inclusivity.