On July 14, 2010 the IRS, DOL, and HHS jointly issued Interim Final Regulations (IFR) for implementing coverage of preventive health services. The regulations generally apply to group and individual health insurance policies with plan years starting on or after September 23, 2010 and require certain preventive services to be covered without charging a co-pay, co-insurance, or deductible when a network provider delivers the services.

Benefit amounts and monthly premiums for the Pre-existing Conditions Insurance Plan (PCIP) are now available on www.healthcare.gov. In addition to the monthly premium, participants will be responsible to pay other costs such as deductibles, co-payments, and out-of-pocket charges.

The government published responses to frequently asked questions on the www.healthcare.gov website. Several of those questions and answers are included below to provide more detailed information on the high-risk pool.

Interestingly enough, a letter from the Congressional Budget Office (CBO) confirmed that the $5 billion allocated for the high-risk fund is insufficient to carry the plan through 2014 when the exchanges are to be implemented. The CBO has determined that an additional $10-15 billion will be needed to cover the plan participants, which is estimated to initially be around 400,000 in 2011 and increase to 700,000 by 2013.

On July 1, eligible residents of South Carolina will be able to apply for coverage through the state’s PCIP program run by the U.S. Department of Health and Human Services.