GREENSBORO, NC -- Obamacare is here to stay, Obamacare will be repealed. Obamacare is here to stay. Obamacare will be repealed.
With all this back and forth, you might be wondering, “what should I do about the Affordable Care Act health care enrollment?”. Christopher Cook with Alliance Insurance Services has a quick answer for that.
“Sign up. It's still the law of the land. Penalties exist if you don't. Even if something is repealed at some point it will take a while you need to be covered.”
Enrollment started November 1st and ends earlier than normal. This year’s sign up period is until December 15th.
“In the past the enrollment period has been extended – I don't think there is any way that is possible this year.”
Here's the good news, about 84% of enrollees in this year got tax credits or subsidies to cover a share of their premium. In North Carolina, that is expected to be the same this year with those enrolling in the state's largest insurer, Blue Cross Blue Shield.
“A true Health Insurance plan is only available in all 100 counties from BCBSNC. There are people doing other things but those products have some pitfalls. I'm not saying they are all bad there are just concerns.”
BCBSNC products have concerns too-- mostly price. Let's show you how the subsidies kick in and when they don't. Chris took a look at quotes for a family of five; mom, dad and three kids. If the household income is $115,000 there is no subsidy. The monthly premiums go anywhere from $1,600 to $2,300.
But, if the same family of five makes $70,000 the subsidies do kick in. You’re looking at zero premium to $450.
Local agents like Chris can help you navigate the options. The NC Department of Insurance also has a helps page.
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