EFN

The healthcare reform law will be set into motion on July 1 and is the first of many actions designed to help American people get some kind of health insurance. Those who were unable to buy health insurance in the past because of pre-existing conditions will be given that right under the new law.

High-risk insurance pools will make it possible for those with cancer, heart disease, diabetes and a number of other ailments to buy insurance. However, the cost of this insurance will be very high and few with life-threatening illnesses will actually be able to afford the insurance. One estimate is only eight percent of those uninsured would have the means to pay the exorbitant premiums.

The law allows for an initial five billion dollars in funds to help those who cannot afford the premiums. Experts caution this money will be used up rather quickly in an effort to help the estimated eleven million people with pre-existing conditions and no current health insurance. In order to cover the costs of the program, states would most likely have to ask congress for more money in the future.

Another option that is likely, is the premiums of the insurance policies will increase, with coverage decreasing.