With Open Enrollment 2017 just around the corner, you may be hearing a lot of talk about the Health Insurance Marketplace.  You also may be wondering exactly what a Health Insurance Marketplace is and how it will affect you and your ability to enroll in a health plan. Basically, a Health Insurance Marketplace, also called a Health Exchange, is an organization set up to facilitate the purchase of health insurance in each state under the Patient Protection and Affordable Care Act (ACA), also known as Obamacare.  Some states have elected to run their own Marketplace or Exchange, while other states are a part of the federal Exchange.  North Carolina is a part of the federal Marketplace.

For North Carolina residents who do not have access to employer based insurance, the Marketplace (Exchange) provides access to individual health plans offered by private insurance companies.  As of September 1, 2016, the only company in North Carolina considering continuing offering health plans on the Marketplace in 2017 is Blue Cross Blue Shield of NC.  If you are applying for a federal subsidy or premium tax credit you are required to enroll a Marketplace plan.  All Marketplace plans offer ten essential benefits, including preventive care, and ask no health questions regarding preexisting conditions. (more…)