Mississippi Risk Pool - Health Insurance for the Uninsurable
Risk Pool Name / Acronym
Mississippi Comprehensive Health Insurance Risk Pool Association / MCHIRPA
Insurance Regulation Establishing Risk Pool
Comprehensive Health Insurance Risk Pool Association Act
Chapter 9 of Title 83
Funding
MCHIRPA is funded by assessments to commercial insurance companies as well as stop-loss agencies and reinsurance carriers. These funds supplemental the revenue generated from the insurance premiums paid by plan members.
Plans Offered
MCHIRPA offers one traditional health plan that gives you a choice of three different deductible options.
Plan Benefits
You have a choice of a $1,000, $2,000 or $3,000 annual deductible. For all deductible options you pay a 20% coinsurance for most covered services and there are no annual out-of-pocket maximums. Each plan has a separate deductible for prescription drug benefits and generic drugs are covered in full after you meet your associated deductible.
Maximum Benefit Limits
MRCHIP plans have a lifetime maximum benefit of $500,000
Eligibility
- You must be a resident of Mississippi for at least the past 6 months
- You have a health condition which would result in automatic declination of covered, or during the 12 months you have been denied health insurance coverage by a licensed insurance company that offered benefits substantially similar to MCHRIPA coverage without material underwriting restriction at a rate equal to or less than the MCHIRPA rates Insurance
- You are not eligible for Medicare or Medicaid
- You are not receiving health care benefits under any state or federally sponsored health plan
- You have not received over $500,000 in benefits from MCHIRPA or any other high risk pool
- You do not have other health insurance coverage in effect
Enrollment Periods
MCHIRPA coverage becomes effective on the first day of the month, following the approval date of your application. For those applicants that meet federal HIPAA regulations, and apply for coverage within 63 days of the termination date of their prior coverage, will have an effective date of coverage the day following the termination date of their previous coverage.
Premium Payments
Premiums for Kentucky access plans are based on your selected deductible, your gender, your age and the pre-existing exclusionary period associated with your coverage.
Premium Calculations
MCHIRPA premiums are based on the medical insurance rates offered under similar health plans in Mississippi at the standard risk rate. MCHIRP rates are capped at 150% of this standard risk rate and may not exceed 175%.
Pre-Existing Condition Waiting Periods
MCHIRPA has a 12 month exclusionary period for pre-existing conditions, unless you qualify for a waiver. A waiver is granted to any person that is eligible for coverage under federal HIPAA regulations and has had 18 months of continuous coverage without a gap of over 63 days. Your most recent coverage must have been under a group health plan.
Mississippi Comprehensive Health Insurance Risk Pool Association Contact Information
Mississippi Comprehensive Health Insurance Risk Pool Association
P. O. Box 13748
Jackson, MS 39236
Phone: 888-820-9400
MCHIRPA Website
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