Have you seen the new 2014 North Carolina Platinum Plans? It has been repeated numerous times in the news and in print, that only two North Carolina Platinum plans are offered by BlueCross BlueShield North Carolina. However, other Platinum plans are available in North Carolina at competitive rates, with some of the lowest out-of-pocket costs of any plans available!
Of course, there is a catch – these North Carolina Platinum plans are only offered off of the exchange/marketplace.
What does “off marketplace” mean? Keep reading to find out!
What is a North Carolina Platinum Plan?
Platinum plans, as defined by the Affordable Care Act (ACA, or as some say, “Obamacare”) are health insurance plans that have an actuarial value of 90%. In general, Platinum plans have higher monthly premiums, but lower out of pocket costs. For this reason, North Carolina Platinum plans are more suited to people who expect to go to the doctor often, have regular monthly prescriptions, or expect to have other substantial medical expenditures throughout the year.
Off-Exchange/Marketplace Health Plans
We really enjoyed this article from the New York Times, especially as it relates to North Carolina Platinum plans :
WITH so much attention being paid to the troubled debut of the Obama administration’s health insurance exchanges, another alternative has largely gone unnoticed: unless you live in Washington, D.C., or Vermont, you can also buy insurance outside the exchanges — by going directly to insurance brokers, agents or company Web sites. Read More Here
Off exchange plans are plans that are offered outside of the Federal Health Insurance Marketplace. These plans, starting January 1, 2014, must comply with all of the laws that apply to health plans offered on the Federal Exchange/Marketplace at www.healthcare.gov. Just like plans on the marketplace, qualified health plans purchased outside of the federal marketplace must cover the 10 essential health benefits as defined by the healthcare reform law. The biggest difference to YOU, the consumer? Anyone who purchases an off-exchange plan cannot qualify for Federal subsidies to offset health insurance premiums. Many North Carolina individuals and families making between 100% and 400% of the Federal Poverty level may be eligible for premium assistance through the Federal Exchange. I personally believe, that in certain situations, many North Carolina residents who are eligible for a subsidy, may be better off forgoing the subsidy and buying an off exchange policy. In addition, many off-marketplace plans use more robust provider networks than those found on the marketplace plans. Recently, many news sources, both national and local have reported on the narrow networks associated with the new Marketplace health plans . This is why we recommend working with a North Carolina Obamacare agent to be sure that you choose the plan that best suits YOUR unique needs.
Who offers North Carolina Platinum Plans?
Of course, as a full service Health Insurance Agency we recommend North Carolina Platinum plans through through Assurant Health. Assurant Health offers 2 Platinum Plans in North Carolina: CoreMed Platinum 1 and CoreMed Platinum 2. Each of these plans allows the enrollee to select one of 3 robust networks: Aetna Signature Administrators Network, Medcost or CoventryHealthcare of the Carolinas Point Of Service network . For benefit summaries for each of the two North Carolina Platinum Plans, click the links below:
Who is Assurant? Great question. Assurant traces its roots to the founding of the LaCrosse Mutual Aid Association established in LaCrosse, Wisconsin in 1892, formed to provide consumers with disability insurance. Assurant Health now provides quality health care insurance products to customers with an emphasis on individuals who need coverage but are not part of a larger group plan. With a 120-year legacy, the business offers affordable health care products including major medical, supplemental and fixed-benefit plans for individuals, families and small employers. Financial ratings information for Assurant’s various companies can be viewed HERE.
Who should consider a North Carolina Platinum Plan?
Anyone who visits the doctor often, takes many prescriptions, or otherwise has high anticipated medical costs. Our analysis indicates that North Carolina residents under the age of 50 may see the most value in a North Carolina Platinum plan in 2014. In our analysis, many residents with high medical costs were better off paying higher Platinum plan premiums in exchange for much lower out of pocket costs. Please contact us today to help determine if you may be a good candidate for a North Carolina Platinum plan. We can HELP!