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OPEN ENROLL STARTS TODAY – NOVEMBER 15TH

Saturday, November 15th, 2014

DeadlineIf you did not get health coverage previously under the Affordable Care Act, you can enroll in a plan for next year starting Nov. 15. And if you are already covered, you can change or renew your plan for next year. If you don’t sign up by Feb. 15, 2015, you will be without coverage until January 2016 unless you have a qualifying life event .

There are at least three key components to choosing an ACA plan that is right for you and your family: Benefits, premiums and the network of doctors and hospitals.

Benefits:

All ACA plans are required to cover “essential health benefits” as described in the law. And all individual plans must cover preventive health benefits entirely.

Beyond these requirements, consumers have choices when it comes to how much they pay out-of-pocket for covered services. Plans are broken into four categories — bronze, silver, gold and platinum. As these names suggest, bronze plans have the highest deductibles and co-payments, platinum the lowest.

When shopping for a plan, look for the “Summary of Benefits and Coverage” which describes what the plan covers. Also be sure to review each plan’s prescription drug formulary to see what drugs are covered. Or call the plans you’re considering and ask about any specific services you think you might use in the coming year.

Premiums

Health plans across the nation have been preparing customers for changes in rates from current plans for the new ACA enrollment period.  Generally speaking, the higher your out-of-pocket costs, the lower your premiums are. This tradeoff between rates and out-of-pocket costs is an important element to consider when shopping for coverage, CLICK HERE FOR YOUR NEW 2015 RATE.

Federal subsidies help consumers pay for coverage through the ACA. If your household income is between 100% and 400% of the federal poverty level, you do not have coverage through an employer, and you meet certain other requirements, you will be eligible for a federal subsidy to purchase a plan through the exchange.

Networks

Another important consideration for consumers is whether their current physicians and hospitals are in-network. Going outside the plan’s network typically results in higher charges — sometimes significantly higher. And some plans don not cover services provided outside their networks.

If you have had coverage before, or have a current plan, do not automatically assume your doctors will still be in-network for a new or renewed plan. It is best to check each time you go through an open enrollment period. All ACA plans are required to tell consumers which providers are in the plan’s networks. When shopping, look for the link to the provider directory.

For more information on Blue Cross Blue Shield of North Carolina 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 experienced and professional agents.  Let us help you navigate through the Health Care Reform changes in accordance with the new regulations of The Affordable Care Act, also known as Obama care.

 

What are the Benefits of the Metallic Levels?

Monday, October 20th, 2014

bigstock-Aca-Affordable-Care-Act-Metal--51911344One of the main focuses of Health Care Reform is making it easier for consumers to compare plans as they shop for health insurance. Therefore, health insurance plans have been separated into metallic levels (bronze, silver, gold and platinum) to indicate the level of coverage and insurance benefits in each plan.

BRONZE: Medical costs are covered at approximately 60%. Ideal for people who want lower monthly premiums and don’t expect to need a lot of medical services.

SILVER: Medical costs are covered at approximately 70%. Ideal for those who want to keep their monthly premiums and out-of-pocket medical costs more balanced.

GOLD: Medical costs are covered at approximately 80%. If you receive medical services regularly, and you’re okay with paying a higher monthly premium to have more of your health care costs covered, this level of plan is one to consider.

PLATINUM: Medical costs are covered at approximately 90%. If you receive medical services frequently, and  you’re willing to pay more each month for the lowest health care costs, consider this plan level.

All health insurance plans must fall within these metallic levels in 2014, except for the catastrophic plans for people under 30 or that meet certain hardship requirements. Blue Cross Blue Shield of NC catastrophic plans, however, do meet bronze level requirements.

All plans have an out-of-pocket (OOP) limit of $6,350.1 This includes costs such as prescription drugs, copayments, etc. Your OOP limit does not include premiums or costs not covered by BCBSNC. Family plans have a higher OOP limit of $12,700. (You may, however, have a plan with a lower OOP limit.)

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 Obamacare. Call us for details.

 

BCBSNC to Host 2013 dotBlue Conference in North Carolina

Monday, October 7th, 2013

CHAPEL HILL, N.C. – Blue Cross and Blue Shield of North Carolina (BCBSNC) announced today that it will host the 2013 dotBlue conference. The annual symposium focuses on using the latest digital and web strategies to address the health insurance industry’s most pressing challenges. This year’s conference, titled Connecting the Dots, will focus on helping consumers understand and navigate health care reform.

The conference will take place at BCBSNC’s Durham campus from Oct. 23-25, 2013. Conference attendance is limited to Blue Cross Blue Shield Plan professionals.

Participating Blue Plans will be invited to present on relevant topics of their choice. In addition, attendees will participate in presentations about using the latest in web design and digital technology to address the changes coming to health insurance in 2014, including:

  • Pursuit of the Virtuous Quantified Life
    • Presented by Robert D. Furberg, senior clinical informaticist at RTI International’s Center for the Advancement of Health Information Technology (more…)

Affordable Care Act & Actuarial Value

Friday, September 27th, 2013

The term “actuarial value” has not been frequently used, even in the insurance business…yet! Even those in the business may have a hard time understanding it and even harder time explaining it. But the Affordable Care Act (ACA) uses actuarial value to describe many of the requirements and restrictions for compliant plans, so it becomes increasingly important to understand and explain what this term means and how it applies in a post-ACA world.
Actuarial value is often seen as the “true” value of a plan. It is the percentage of covered costs that the plan expects to pay for an enrollee in the plan. As an example, a person with a plan that had an actuarial value of 70% would be responsible for on average 30% of the cost of the covered benefits under the plan. Depending on the behavior of the enrollees in the plan, the actual value of the plan may vary slightly. Until the passage of ACA, “actuarial value” was not a household term. Long-time insurance employees likely have a loose grasp on the concept, but in the post-reform world, it will be a commonly used tool to estimate the true value of a plan.
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BCBSNC Catastrophic Plans in 2014

Monday, September 23rd, 2013

Blue Cross Blue Shield wants to help you save. Consider one of our new low cost plan options. To help lessen the financial impacts of health care reform, BCBSNC has created several new plan options for 2014.

BCBSNC Catastrophic Plans in 2014:

+Substantial savings with preventive care covered at no charge3

+ Exemption from some of the rules of the Affordable Care Act (ACA)

Subsidies cannot be applied to this plan.

IFor 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.

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

How Will My Premiums be Affected?

Friday, September 20th, 2013

Let’s get to the question on everyone’s minds: What does this mean for me?  The people most affected financially by Obama Care are those who purchase individual policies or get their insurance through a small-business employer.  Of those affected, some customers will pay less than they do now, but many will pay more. Federal subsidies will offset the rates for some people – but many will be eligible for only a partial subsidy.  Here’s how health insurance premiums will be impacted for different people choosing a mid level plan.

But how will Blue Cross and BlueShield of North Carolina’s individual and small business customers be affected specifically?

Because of the impacts of the Affordable Care Act, about half of our customers will see their premiums increase by 50 percent or more before federal subsidies. We expect about half of our customers will qualify for subsidies, which will help off set their costs – though the amount of those subsidies can vary greatly. Of course, subsidies don’t actually reduce the cost of coverage. They simply shift it to someone else. The federal government pays for the subsidies and the cost share shifted to taxpayers.

The above information is from “The Cost of Change” from Blue Cross Blue Shield of North Carolina.

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.

Key Points to Remember about Your BCBSNC Non-Grandfathered Plan

Monday, September 16th, 2013

You will need a new BCBSNC plan for 2014.
+ BCBSNC automatically map you to a new 2014 plan and send you that rate in September. To maximize savings, it is important for you to explore your options.
+ Starting October 1 in accordance with Obama Care, you will be able to go to Member Services  to link to the Health Insurance Marketplace where you can confirm subsidy eligibility. Compare your rate from our September rate letter to the rate of a new 2014 plan with subsidies or a low cost plan. This side by side comparison will help you decide what is best for you.
+ Remember, changes to the plan you were mapped to must be made by December 15, 2013 for the plan to be effective January 1, 2014.
+ If you make no changes, your mapped plan will start January 1, 2014.

Here’s what you should know about your plan:
+ The rate you pay for health insurance has always changed due to rising medical costs, but your rate may increase even more because of changes under health care reform. Some of the changes include increased benefits and new taxes and fees.
+ You may qualify for new federal subsidies that can help offset your monthly premium.
+ On October 1, log into Member Services and we will link you to the Health Insurance Marketplace so you can confirm subsidy
eligibility and ensure maximized savings.
+ Another way to save on premium costs is to consider one of the many new, low cost plan options such as Blue Value or Blue Select.

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.

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

BCBSNC Blue Value in 2014

Friday, September 13th, 2013

BlueCross BlueShield wants to help you save. Consider one of our new low cost plan options. To help lessen the financial impacts of health care reform, BCBSNC has created several new plan options for 2014.

Blue Value is one of these options.  The coverage you need, the savings you want. Blue Value features the lowest costs of all our plans. This plan offers:

+ Quality, cost-effective coverage
+ A limited network of providers and pharmacies
+ Prescription drug requirement

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.

Key points to Remember about Your BCBSNC Grandfathered Plan

Wednesday, September 11th, 2013

If you like your Grandfathered Plan, keep it. Automatic renewal will continue coverage. If you switch to a new 2014 BCBSNC plan, subsidies may save you money. Not switching may mean you are “leaving money on the table”.

BCBSNC will be sending you your new 2014 rate in September. Starting October 1, you can go to Member Services to link to the Health Insurance Marketplace to confirm subsidies. You can compare your rate from our September rate letter to the rate of a new 2014 plan with subsidies. This side by side comparison will help you decide what is best for you.  Remember, changes to your plan must be made by December 15, 2013 for the plan to be effective January 1, 2014.

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.

How do Advanced Premium Tax Credits Work?

Friday, September 6th, 2013

There are two types of federal subsidies to help reduce health care costs in 2014.They are Advanced Premium Tax Credits and Cost-Sharing Reductions.

+ Advanced Premium Tax Credits lower your monthly premium.

+ Cost-Sharing Reductions help lower out-of-pocket expenses including deductibles, co-pays and coinsurance at the place of service, like doctor and hospital visits. Subsidies are only available on new 2014 plans for those who qualify. Subsidies cannot be applied to Grandfathered Plans, but it may be worth it to switch.

+ Advanced Premium Tax Credits are only available to individuals who are ineligible for public coverage and are unable to get qualified health insurance through an employer.

+ Advanced Premium Tax Credits are determined by income and family size in relation to established Federal Poverty Levels (FPL). Many Americans will qualify for Advanced Premium Tax Credits, including the middle class. Those that qualify must have a household income between 100% and 400% of FPL for their family size.

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The Plan That’s Right For Me?

Monday, August 26th, 2013

There are three ways to go about purchasing insurance for yourself and for your small business: by going through the health care exchange,
contacting an insurer or speaking with a broker.

Health Insurance Exchanges:

You’ve probably heard about exchanges.  The exchange is an online marketplace where various private insurance companies such as Blue Cross Blue Shield will offer their plans.  To simplify the options that will be available on the exchange, and to give a basis for comparison, all plans will be classified according to four levels: bronze, silver, gold or platinum. Bronze plans will provide the least generous coverage, and platinum plans will provide the most generous coverage.

The exchange will enable people to:

• Review plans, compare prices and enroll all at once
• Find out if they are eligible for subsidies It’s important to know that the exchange is the only place to apply for subsidies. It will provide step-by-step instructions to guide you through the process.

Open enrollment on the exchange – the time period in which you will be able to enroll for your 2014 health insurance plan – begins Oct. 1, 2013.  As mentioned earlier, you can also purchase insurance by contacting health insurance companies directly. Or, by speaking with an insurance broker.  No doubt, there is a lot to take in, but we’re dedicated to helping you find an insurance plan that meets your needs and to keeping premiums as affordable as possible.

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.

The Cost of Change: How the Affordable Care Act (Health Reform) Impacts you

Friday, August 2nd, 2013

Are you ready for Health Care Reform?  Click the link below for a simple to understand presentation that may prepare you for 2014.  Our office is ready to assist you with purchasing new coverage and guiding you through the application process this fall.  Do you qualify for a subsidy?  Have you or any of your family or friends been denied coverage for health reasons?  Blue Cross Blue Shield of North Carolina will be in the exchanges well as outside of the change.

http://www.youtube.com/watch?v=o84Xz3_BQjc&feature=youtu.be

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.

 
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