Who sets up the pools and what is the criteria and pricing on these high risk pools. It is a near impossible situation once the companies go belly up. The whole insurance industry has been nuked.
Well, not all HRPs are created equal, but they might be in the future. The public policy was set up on a state by state basis, by the state legislatures. Much information can be found at the NCOIL website.
The best HRCs were established in statute by the states, participation required by the states, but not funded by them. The funding would come from a very small premium assessment, generally a couple dollars (2 or 3) a month per insured. It would be especially effective if levied on all types of health insurance written in a given state.
It should not be funded by the state because RATs are flakey and would defund it, it is in the best interest of the carriers to have a healthy HRP so they can properly assess risk and keep premium down. It is a near impossible situation once the companies go belly up. The whole insurance industry has been nuked.