North Carolina residents have many options when it comes to health insurance. There are many options to choose from, whether you are currently uninsured or have no coverage. There is no reason to go without coverage. You can avoid being left with huge medical bills by having health insurance.
North Carolina Health Insurance Costs
The cost of North Carolina health insurance is relatively low in comparison to other states. However, the costs vary from one county or another. The average cost of health insurance in North Carolina is $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 dominates North Carolina's individual insurance market. It controls almost ninety-seven per cent of the state's market. According to the most recent federal data, North Carolinians spent less in 2021 as compared with 2019. Furthermore, North Carolina is home to one of the highest percentages of enrollees who received premium tax credits and subsidies. In fact, 93% North Carolina residents got some kind of subsidy that helped lower the cost for their coverage. Furthermore, North Carolinians were granted larger average monthly subsidies than people in the rest of the country. North Carolina's average monthly subsidy amount was $568 in comparison to the $491 national median.
Exclusions from pre-existing conditions
North Carolina's individual health insurance policies have exclusions that apply to pre-existing medical conditions. If the policyholder had creditable coverage in the past, this exclusion may be reduced. Creditable coverage means that it covers a preexisting condition within six month of the policy date.
Before the Affordable Care Act, insurance companies could refuse coverage or charge higher premiums to people with certain medical conditions. In all cases, however, this was not the situation. A national survey found that nearly a third (33%) of those who applied for insurance coverage were denied due to pre-existing medical conditions. 54% of individuals with individual market insurance expressed concern about losing coverage because of pre-existing conditions.
Premiums
The average premium for a family health insurance plan in North Carolina was $18,211 in 2018 compared to just under $12,000 in 2008. The premiums paid vary by county. 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 spends 8 percent on their health care costs in 2008 and 11 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. The Marketplace or a private insurer can offer health insurance plans. The North Carolina Marketplace offers health insurance plans. However, enrollment is only open between November 1 and January 15. A qualifying event must be present before an Exchange plan can be enrolled.
Short-term plans
A great way to bridge between regular and short-term health insurance is through short-term health insurance plans. These plans can be beneficial to people who have recently divorced or are looking to add to their existing coverage. Short-term policies typically have less requirements than standard medical insurance. It is therefore important to compare all features. Compare premiums, deductibles copays, maximum benefits, plan start dates, and copays to make the best selection.
North Carolina residents can get short-term coverage through their health insurance plan. These policies can be used to replace individual health insurance policies and last for up to 36 months. Some plans can be renewed for a longer period of time. These plans are very affordable, especially if your employer doesn't offer coverage.
Medicare coverage
Medicare coverage is possible for senior citizens in North Carolina. There are many plans you can choose from. Many of them are tiered and provide different levels coverage. There are many supplemental options available, some even offering prescription drug coverage. Original Medicare, which provides the most basic coverage, allows you choose a provider anywhere within the U.S.
Original Medicare is the most basic type of Medicare. It covers doctor visits, medical equipment, mental health services, emergency services, and ambulance services. Original Medicare does NOT cover prescription drugs. But, Medicare Part D provides prescription drug coverage. Or, you can choose one of the Medicare Advantage Plans. These plans include HMOs (PPOs), Private Fee-For Service plans, Special Needs Plans, and other private fees-for-service plans. Some plans offer vision and hearing coverage as well fitness programs.