For Immediate Release
April 14, 2010
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Folmer's High-Risk Pool Legislation Passes Senate Banking and Insurance Committee  

Harrisburg – Senator Mike Folmer's Senate Bill 507, legislation to establish a state High Risk Pool (HRP), today unanimously passed the Senate Banking and Insurance Committee.

"Senate Bill 507 is a key component of Healthy PA, my plan to reduce health care costs and enhance the quality and access to care for Pennsylvanians," said Folmer. "Moving this bill a step closer to becoming law is a stride toward true health care reform and empowering consumer-and market-driven initiatives, rather than government-imposed mandates and costs."

Folmer said many other states have some version of a high risk pool, which do not allow public funds to pay premiums. Folmer's legislation would apply this provision to Pennsylvania law while establishing an independent board of directors to oversee the operations of the pool and ensure it is self-sustaining.

Folmer compared the HRP to the auto insurance market, where such a pool would also ensure the ability of all insurers to appropriately match premiums to the cost of the underlying risk in all products sold in the Pennsylvania marketplace.

In addition to being a component in Folmer's Healthy PA package, Senate Bill 507 is part of HealthNET PA, the Senate Republican Caucus plan to expand access to health care and medicine to 507,000 uninsured and low-income working Pennsylvanians.

"While the individual effects of these bills might vary, their collective impact – like fingers of a hand clenched in a fist – would impact and reduce health care costs and enhance the quality and access to care," said Folmer.

The bill now goes to the full Senate for consideration.

 

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