Getting your subsidy starts with a free rate quote.  When you generate your rate quote, you can estimate your subsidy and how it affects your premium.  To apply you simply press Get Started, in your quote, to begin your application.  Once you register, there will be a link you click on that will take you to the Marketplace to complete your subsidy and get the actual amount you qualify for.  You can enroll in your plan through the Marketplace and Blue Cross Blue Shield of North Carolina will send you a bill once healthcare.gov uploads your file to BCBSNC.

In addition to advance premium tax credits, the government also provides cost-sharing reductions (CSR) for those who qualify. Cost Sharing Reductions allows you to pay for a standard silver plan, but get richer benefits.  To be eligible for Cost Sharing Reductions your income must be between 100% and 250% of the federal poverty level (FPL).  CSR is only available on silver plans. These special CSR plans provide enhanced benefits that can mean your “silver” plan has the benefits of a plan with a higher metallic value.

Once at the Marketplace, you will need your Social Security number, employer and income information to register and complete your subsidy application.  You can apply online or you can call and complete your application by phone.   Then you will be automatically transferred back to BCBSNC to see your final subsidy and premium. Choose and buy your plan.  You can call our office 888-765-5400 to go over the plans, process and confirm deadline dates to enroll.

For more information on health insurance coverage in North Carolina, please visit our website at www.nchealthplans.com or call our toll free number 888-765-5400 and speak with one of our professional agents. Our agency provides coverage for health insurance in North Carolina through Blue Cross Blue Shield of North Carolina (BCBSNC). It would be our pleasure to help you navigate through the Health Care Reform changes in accordance with the new regulations of Obama care. Call us for details.

Cost-Sharing Reductions are only available to those who qualify. Again, they do not apply to Grandfathered Plans. If you qualify, you will want to take advantage of both Cost-Sharing Reductions and Advanced Premium Tax Credits. You can use them both to maximize your savings.Cost-Sharing Reductions are only available to individuals who are ineligible for public coverage and are unable to get qualified health insurance through an employer.

COST-SHARING REDUCTIONS:

2014 plans will be grouped into four metallic levels: Bronze, Silver, Gold and Platinum. In order to take advantage of Cost-Sharing Reductions, you must choose a Silver plan. They help lower out-of-pocket expenses, such as deductibles, co-pays and coinsurance.

Cost-Sharing Reductions are only available for households with incomes thatare between 100% and 250% of the Federal Poverty Level (FPL).

For example, let’s say you go to the doctor and are charged $100. Normally with a Silver plan you might have a co-pay of $25, but because
you qualify for Cost-Sharing Reductions and you chose a Silver plan, you may have a co-pay as low as $5.

Cost-Sharing Reductions can also lower deductibles. For example, a $3,500 deductible may be lowered to $500.

With Cost-Sharing Reductions, you essentially pay for a Silver plan but receive the richer coverage of higher metallic level plans, thereby reducing your out-of-pocket expenses. If you qualify for Cost-Sharing Reductions, you should take advantage of this cost savings benefit.

For more information on health insurance coverage in North Carolina, please visit our website at www.nchealthplans.com or call our toll free number 888-765-5400 and speak with one of our professional agents. Our agency provides coverage for health insurance in North Carolina through Blue Cross Blue Shield of North Carolina (BCBSNC). You may qualify for a 15% healthy lifestyle discount if you are in excellent health. Call us for details.

Information from a BCBSNC publication on 8/12/13.