North Carolina State residents enjoy a wide variety of insurance plans but this makes the process of choosing the right process for their individual and peculiar needs very confusing. There are two basic types of health coverage plans available for residents. These are Individual and Group Health plans.
Individual North Carolina Health Plans
These plans are bought by individuals or families who are not covered by their employers’ insurance scheme. They are either self-employed or are not included in the employer’s plans. The advantages of having an individual health plan include,
1. The individual has full control of his health insurance plan.
2. Ownership of one’s own coverage.
3. Premiums depend on personal or family health history.
However, the Individual North Carolina health insurance plans also have their disadvantages; these are
1. Responsibility of the entire premium thus the employer does not provide subsidy.
2. Higher premium levels are charged if a person is ill during the time of application.
3. There is no compensation because the insurance is being taken care of by the individual alone.
Group North Carolina Health Plans
these are plans offered by employers to most of their full time workers. The advantages of the Group NC health insurance plan include
1. Employers pay 50% of their employees’ premium.
2. People with major health issues can afford insurance due to the proper support.
3. The employer will offer compensation especially in extreme conditions.
The Group NC Health Plan also has its disadvantages. These are;
1. Upon termination by the employer, choices for affordable health care are limited or unavailable.
2. People’s options are limited to the employers’ provision.
3. Individuals in the group cannot control the premium level.
North Carolina Health Insurance
North Carolina began providing health insurance coverage to residents in 2010 through a high-risk pool program established federally. Families having history of medical problems are assisted by the risk pool to purchase coverage. Health insurance companies operating in the state are expected to contribute to the pool so that people can become self-employed without losing their insurance coverage.
Blue Cross Blue Shield and Affordable Care Act (ACA)
Blue cross Blue Shield North Carolina is the states’ largest insurer. This insurance company announced to the customers the revised premiums under the Affordable Care Act. It has to offer 26 plans in the health insurance exchange. The charges were to range from $145.18 a subscriber aged 24 (one of two catastrophic plans) to $594 for 60 year old (one of six plans).
Individuals who are seeking to buy health insurance for the first time are usually not certain of the insurance products that best suit them. This is also the case for those who have relied on their employers’ coverage decision and are now about to get an insurance coverage on their own.
In same manner, those who seek health insurance exchange also rely on insurance companies to help make the best decision for them. The aim of the exchange is to improve the quality and access of an affordable health care. The process requires that the company develops its knowledge and insights in anticipating customers especially for first timers.
With the Affordable Care Act and policies and the analysis of BCBSNC on their customers trend, the “exchange” process has become very easy. The individual seeking exchange can confidently leave allow Blue Cross Blue Shield North Carolina decide which of its 26 plans is the best option.