California Lowers Pre-Existing Condition Insurance Plan’s Premium Rate.

The San Francisco Chronicle (8/3, C3, Colliver) reports, “More than 3,500 Californians are about to receive a rare benefit: reduced health insurance rates.” California announced Tuesday that it will “lower premiums by as much as 24 percent for new and existing subscribers of its health program for the medically uninsurable.” According to the state’s Managed Risk Medical Insurance Board, monthly premiums for individuals in the federally funded “Pre-Existing Condition Insurance Plan will drop an average of 17.9 percent, or between 8.2 percent and 24.3 percent.” California has been “allotted $761 million from the federal government to operate the program until 2014, when the federal health law will prohibit insurers from denying people coverage due to pre-existing conditions.”

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