Obamacare requires all those who are able to afford health insurance to maintain coverage. Individuals and families in North Carolina with incomes between 100% and 400% of the federal poverty level can apply for subsidies to help pay for a portion of their premiums when they enroll in Obamacare health insurance plans.
Obamacare Rates in NC
Under Obamacare, the cost of individual and family plans in North Carolina depends on five factors, these are:
- The age of each person being covered
- Whether anyone covered on the plan smokes
- The annual household income
- Where in NC the individual or family lives
- The desired level of coverage
Insurers cannot exclude anyone from coverage due to their age; however, health insurance rates do go up as a person gets older. In addition, insurers are permitted to charge smokers 50% more than non-smokers.
Subsidies can help to offset the cost of insurance premiums. The amount of subsidy an individual or family qualifies for depends on their annual household income. Those with lower incomes closer to 100% of the poverty level will qualify for higher subsidies than those with incomes near 400% of the poverty level. Click here to learn if you are subsidy eligible.
Some insurers may offer coverage in certain North Carolina counties and not others. So the geographic location of a person’s residence will impact the types of plans that are available to them through Obamacare.
The level of plan selected will also impact the cost of health insurance for an individual or family in North Carolina. Under Obamacare, health insurance plans are divided into four primary metallic levels: bronze, silver, gold or platinum. The rates for these plans differ based on the percentage of medical costs each plan will cover. In addition to premiums, there are other factors to consider when looking at the cost of health insurance plans, such as required co pays, deductibles and maximum out-of-pocket limits.
Individual and Family Plans
Individual and family plans may be purchased in North Carolina through Healthcare.gov, or directly through an insurance provider. Only those individual and family plans offered on Healthcare.gov, through Obamacare, are eligible for insurance premium subsidies.
Individuals and families in North Carolina may only purchase health insurance through Obamacare, or direct from an insurance provider, during the Annual Open Enrollment period. The only exception applies to those who experience a Qualifying Life Event.
Getting Help with Obamacare Enrollment
If you need help signing up for Obamacare health insurance plans in North Carolina, WNC Health Insurance is here to help. Our personal healthcare reform advisors will guide you through the process of creating an account at Healthcare.gov, applying for subsidies, and selecting a health plan that is right for you and your family. We offer these services all at no cost to you!