North Carolina residents can choose from a range of insurance plans. There are many options for you, regardless of whether you do not have insurance or are unemployed. There is no reason for you to be without any type of coverage. A health insurance policy can protect you from getting stranded due to huge medical bills.
North Carolina Health Insurance Costs
North Carolina has a low cost for health insurance, but there are variations from one county to another. North Carolina's average cost for health insurance is $6,352 per individual and $25,408 per household. This is $629 lower than the national average. The cost of North Carolina health insurance is just as variable as anywhere else. It varies based on what type of insurance and who you insure. Check out the table below to see how insurance rates in North Carolina compare.
Blue Cross Blue Shield is the dominant player in North Carolina's individual healthcare insurance market. The state owns nearly 97% of its individual market. According to federal data, North Carolinians paid a lower premium in 2021 compared to 2019. North Carolina is also home to the highest percentage of enrollees, who received premium tax credit and subsidies. In fact, 93% North Carolina residents received some subsidy to reduce the cost of their coverage. North Carolinians received a higher average monthly subsidy than other Americans. North Carolina received $568 per month in subsidies, compared with the national average of $491.
Exclusions for preexisting conditions
Individual health insurance policies in North Carolina are subject to pre-existing condition exclusions. If the policyholder has creditable prior health coverage, these exclusions might be reduced. Creditable coverage means that it covers a preexisting condition within six month of the policy date.
Prior to the Affordable Care Act (ACA), insurers could deny coverage for certain people or charge higher premiums if they knew about certain health conditions. But this was not true in all cases. A national survey found that nearly a third (33%) of those who applied for insurance coverage were denied due to pre-existing medical conditions. In addition, 54 percent of people with individual market insurance were concerned about dropping coverage due to pre-existing conditions.
Premiums
In 2018, the average premium for a North Carolina family health insurance plan was $18,211, compared to $12,000 in 2008. There is a wide variation in the distribution of premiums between counties. North Carolinians covered by employer-sponsored medical insurance paid nearly 14 percent of the median income for their state, as compared to just over 11 percent in 2008. In comparison, the average American spent 8 percent of their income on health care in 2008, and 11.5 percent in 2018.
Americans are now able to afford health insurance thanks to the Affordable Health Act. Individuals can purchase North Carolina health insurance through the Affordable Care Act's Health Insurance Marketplace for as low as $600 per month. Private insurers or the Marketplace can provide health insurance plans. North Carolina has open enrollment for health insurance plans between November 1st and January 15th. However, a qualifying event must take place before an individual can enroll into an Exchange plan.
Plans for the short term
These plans can be used to bridge gaps between short-term coverage and regular health insurance. These plans are ideal for those who have just recently been divorced, want to supplement or retire early, as well as people looking to replace their existing coverage. Short-term plans often have fewer requirements than standard insurance. It's important that you compare each plan's features. Make sure to compare premiums, deductibles, copays, maximum benefits, and plan start dates to make the best choice.
Short-term health insurance plans are available to North Carolina residents who need temporary coverage. These policies can be used to replace individual health insurance policies and last for up to 36 months. In some cases, these plans can be renewed for longer periods of time. They are also very affordable, especially if you don't have coverage through an employer.
Medicare coverage
If you're a senior in North Carolina, you may be eligible for Medicare coverage. There are many options available. Most plans are tiered with different levels and coverage. There are also different supplemental coverage options, and some plans even offer prescription drug coverage. Original Medicare provides the most basic coverage, and you can choose any provider in the U.S.
Original Medicare is Medicare’s most basic form. This includes doctor visits, mental healthcare services, ambulance services, as well durable medical equipment. Original Medicare doesn't cover prescription drugs. However, Medicare Part D can provide prescription drug coverage. You can also opt for Medicare Advantage Plans that include HMOs and PPOs as well as private fee-for-service plans and special needs plans. Some of these plans even include vision and hearing coverage, fitness programs, and more.