{"id":4178,"date":"2013-09-09T08:00:29","date_gmt":"2013-09-09T12:00:29","guid":{"rendered":"http:\/\/www.nchealthplans.com\/news\/?p=4178"},"modified":"2013-08-27T12:39:45","modified_gmt":"2013-08-27T16:39:45","slug":"how-do-subsidies-like-cost-sharing-reductions-work","status":"publish","type":"post","link":"https:\/\/www.nchealthplans.com\/news\/2013\/09\/how-do-subsidies-like-cost-sharing-reductions-work\/","title":{"rendered":"How do Subsidies like Cost-Sharing Reductions Work?"},"content":{"rendered":"

\"\"<\/a> 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<\/a> 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.<\/p>\n

COST-SHARING REDUCTIONS: <\/strong><\/p>\n

2014 plans<\/a> 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<\/a>, co-pays and coinsurance.<\/p>\n

Cost-Sharing Reductions are only available for households with incomes thatare between 100% and 250% of the Federal Poverty Level (FPL).<\/strong><\/em><\/span><\/p>\n

For example, let\u2019s 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
\nyou qualify for Cost-Sharing Reductions and you chose a Silver plan, you may have a co-pay as low as $5.<\/p>\n

Cost-Sharing Reductions can also lower deductibles. For example, a $3,500 deductible may be lowered to $500.<\/p>\n

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.<\/p>\n

For more information on health insurance coverage in North Carolina<\/a>, please visit our website at www.nchealthplans.com<\/a> 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). <\/a>You may qualify for a 15% healthy lifestyle discount if you are in excellent health. Call us for details.<\/p>\n

Information from a BCBSNC publication on 8\/12\/13.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[560,14,271],"tags":[569,23,570,540],"class_list":["post-4178","post","type-post","status-publish","format-standard","hentry","category-affordable-care-act-aca","category-bcbsnc-insurance","category-health-care-reform","tag-advanced-premium-tax-credits","tag-bcbsnc","tag-cost-sharing-reductions","tag-exchange"],"_links":{"self":[{"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/posts\/4178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/comments?post=4178"}],"version-history":[{"count":4,"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/posts\/4178\/revisions"}],"predecessor-version":[{"id":4229,"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/posts\/4178\/revisions\/4229"}],"wp:attachment":[{"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/media?parent=4178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/categories?post=4178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/tags?post=4178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}