State High Risk Pool Funding Extension Act of 2004

[AI summary unavailable — showing source text] State High Risk Pool Funding Extension Act of 2004 - Amends the Public Health Service Act to reauthorize funds for States to create and to operate existing high risk health insurance pools. Increases the maximum allowable premium in a qualified high risk pool to 200 percent of the premium for applicable standard risk rates. Defines "standard risk rate" as a rate that: (1) is determined under the State high risk pool by considering the premiums charged by other health insurers in the same market; (2) is established using reasonable actuarial techniques; and (3) reflects anticipated claims experience and expenses. Expands the definition of "qualified high risk pool" to allow a State to meet the requirement to provide all eligible individuals with health insurance coverage by utilizing an acceptable alternative mechanism that includes a high risk pool as a component and: (1) that provides for risk adjustment, risk spreading, or a risk spreading mechanism (among issuers or policies of an issuer) or for some financial subsidization for eligible individuals, including through assistance to participating issuers; or (2) under which each eligible individual is provided …