North Carolina residents are offered a variety health insurance plans. There are many options available for you whether you don’t have coverage at the moment or you aren’t working. There's no reason not to have coverage. A health insurance policy can protect you from getting stranded due to huge medical bills.
North Carolina health insurance costs
While the cost of health insurance in North Carolina is low compared to other states, there is some variation from county to county. North Carolina's health insurance costs average $6,352 per person, and $25.408 per family. This is $629 lower than the national average. But, just like anywhere else, the cost of health insurance in North Carolina varies depending on the type of insurance you choose and the population you are insuring. Check out the table below to see how insurance rates in North Carolina compare.
Blue Cross Blue Shield holds nearly ninety seven percent of North Carolina’s individual market for health insurance. According to the most recent federal data, North Carolinians spent less in 2021 as compared with 2019. North Carolina has one of the highest proportions of enrollees that received subsidies and premium tax credits. In fact, 93% North Carolina residents got some kind of subsidy that helped lower the cost for their coverage. North Carolinians received an average of $568 in monthly subsidies, which is higher than what was available for the rest. Compared to the national average of $491, the average amount of subsidies in North Carolina was $568.
Exclusions of pre-existing medical conditions
North Carolina's individual health insurance policies have exclusions that apply to pre-existing medical conditions. These exclusions may be lessened if the policyholder has prior creditable health coverage. Prior coverage is considered creditable if it covers a pre-existing condition within six months of the time of the policy start date.
Before the Affordable Care Act, insurance companies could refuse coverage or charge higher premiums to people with certain medical conditions. But this was not true in all cases. In fact, according to a national survey, nearly a third of individuals were declined or charged more for insurance coverage based on a pre-existing condition. In addition, 54 percent of people with individual market insurance were concerned about dropping coverage due to pre-existing conditions.
Premiums
In North Carolina, the 2018 average premium to purchase a family plan for health insurance was $18,211. This compares to $12,000 in 2008. Premiums are not evenly distributed across counties, though. North Carolinians who had employer-sponsored health insurance spent nearly 14 percent of their state’s median income. This is compared to just under eleven 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. The Affordable Health Act's Health Insurance Marketplace allows individuals in North Carolina to purchase health insurance for less that $600 per calendar 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.
Short-term plans
A great way to bridge between regular and short-term health insurance is through short-term health insurance plans. These plans are beneficial for those who are new parents, early retirees, or simply looking to increase their coverage. Short-term plans are typically less restrictive than standard health insurance. This is why it's so important to compare features between each plan. Make sure to compare premiums, deductibles, copays, maximum benefits, and plan start dates to make the best choice.
North Carolina residents have the option of short-term insurance plans for temporary coverage. These policies can be used to replace individual health insurance policies and last for up to 36 months. These plans may be renewed for longer periods in some cases. They are very affordable, especially for those who don't have insurance through their employer.
Medicare coverage
Medicare coverage is available for seniors living in North Carolina. There are several different plans available to choose from, and they are usually tiered, with different levels of coverage. There are many supplemental options available, some even offering prescription drug coverage. Original Medicare offers the most basic coverage. You can select any provider within the U.S.
Original Medicare is the most basic form of Medicare, and it covers doctor visits, mental health services, ambulance services, and durable medical equipment. Original Medicare does not provide coverage for prescription drugs. Prescription drug coverage can be obtained through Medicare Part D. Some plans include vision and/or hearing coverage, as well as fitness programs.