Everyone knows you have to pay for health insurance, but did you know there is also a cost to being uninsured?  Under the Affordable Care Act there is a price to pay for not carrying health insurance. The penalty incurred for being uninsured is sometimes called the “individual responsibility payment” or the “individual mandate,” and the fine in 2014 is calculated one of two ways.  If you or your dependents do not have health insurance that qualifies as minimum essential coverage you will pay either 1% of your yearly household income or $95 per person, whichever is greater, for the year ($47.50 per child under 18).

Please note, however, that the penalty increases every year.  In 2015 it is 2% of income or $325 per person and in 2016 and later years it is 2.5% of income or $695 per person.  Also, it is important to remember that even if you pay the penalty, you still do not have health coverage and are responsible for 100% of your medical care.

The important thing to understand is that not only is health insurance a prudent decision for your life, it is also a wise choice for your wallet.  Blue Cross Blue Shield of North Carolina (BCBSNC) offers an array of affordable health plans  that not only save you from unwanted out of pocket medical expenses, it can also save you the cost of being uninsured.  For a complete definition of what qualifies as minimum essential coverage and a comprehensive look at how the tax penalty for being uninsured is calculated review the Affordable Care Act guidelines with IRS.

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.

IS ANYTHING BEING DONE? YES!

The problem of uninsured Americans – North Carolinians specifically –
has been decades in the making. But some initiatives are making significant differences now. Blue Cross and Blue Shield of North Carolina has taken steps to make health care more accessible and affordable for everyone by:
• Working with the Blue Cross and Blue Shield Association to cut fraud, waste and abuse – saving subscribers more than $240 million nationally in 2004 alone.* BCBSNC efforts reduced fraud, waste and abuse by nearly $10 million within the state in 2006.**
• Making the cost of prescription drugs more affordable by providing incentives to customers to use generic drugs, and piloting programs such as electronic prescribing.
• Showing real results in helping members make good choices about activity and nutrition, and manage their chronic conditions through our Member Health PartnershipsSM. This program helps them save money and avoid illness down the road.
(more…)

Who they are. What they face.Yes, the uninsured are the poor, the homeless, the less fortunate. But they’re also your neighbors across the street. Your child’s best friend at school. The small business owner who waves from her shop every morning. They are every race, religion, ethnicity and creed.
The 15.6 percent* of North Carolinians – that’s 1.3 million of the state’s residents – without health coverage come from every socioeconomic class, every level of education and every region of this diverse state. There is no one “face” of North Carolina’s uninsured. There are many faces – perhaps more than you ever imagined. But the challenges they’re dealt are very similar – such as greater risk fordeveloping debilitating illnesses, an increased number of hospital stays and significantly reduced (more…)