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To be eligible for insurance coverage under the program, an individual shall provide evidence to the approved carrier that he or she:
Is under sixty-five (65) years of age;
Is acceptable to the approved carrier; and
Has been without private health insurance coverage for the twelve (12) months immediately preceding application to the program, or that his or her family income does not exceed one hundred fifty percent (150%) of the federal poverty level.
No person who is covered under the program and terminates the coverage is again eligible for coverage unless twelve (12) months have elapsed since the person's latest termination.