Access to Health Insurance for Medically Uninsurable Individuals Act of 1987

Access to Health Insurance for Medically Uninsurable Individuals Act of 1987 - Authorizes appropriations for FY 1988 through 1990 and provides for allotment of appropriated funds to the States. Requires States to use the funds to develop and operate qualified risk pools to provide health insurance for medically uninsurable individuals. Limits to ten percent the amount of the funds which may be used for administration and requires States to pay from non-Federal sources the remaining costs of administering the funds.

Requires an application for the funds to contain certain assurances and certifications by the chief executive officer of a State. Requires such officer to prepare and furnish to the Secretary of Health and Human Services a description of the intended use of the payments, including the programs and activities to be supported. Requires the description to be open to public comment.

Provides for an annual report from each State to the Secretary, with copies made available to interested persons. Requires States to provide for a biennial financial and compliance audit of funds provided the State and a single financial and compliance audit of each entity administering the funds.

Provides for repayment of funds found not to have been expended in accordance with this Act and authorizes the Secretary to withhold funds from any State that does not use its allotment in accordance with this Act.

Authorizes the Comptroller General of the United States to conduct investigations of the use of funds received under this Act. Prohibits discrimination in any program or activity funded under this Act. Provides for criminal penalties for false statements made in connection with items or services for which payment may be made from funds under this Act.

Directs the Secretary to prepare and transmit to the Congress a report describing the activities conducted and assessing the efficacy of qualified risk pools established under this Act and containing recommendations.