Take Control of Your Health Care

*Post provided by Hummingbird Insurance*

It can be easy to overlook how important health insurance is, but in today’s economy where healthcare accounts for over 20% of our gross domestic product and typical family premiums in North Carolina are over $1500 per month, it’s worth taking a look. Especially when that look can potentially save you over $10,000 per year.

Significant changes are happening in the health insurance market. Since open enrollment begins in November, it is important to be aware of these changes and how they can affect you. People now have the option to replace their coverage with a potentially more affordable option. New alternatives to the federal marketplace can offer lower premiums and deductibles with no cost sharing afterwards. It is important that your options for health insurance be re-evaluated now, including tax credits or group plan choices.

So specifically, we are talking about individuals paying full price for Obamacare that do not qualify for tax credits to lower premiums.

North Carolina has the 4th highest premiums in the country. Middle and upper middle class Americans are having trouble affording coverage. People are paying more with higher deductibles. We are finding that the majority of this market (approx. 80-90%) are moving their coverage, and realizing considerable savings. Typical savings can total 50-80% off current 2018 premiums. Outside the Marketplace, insurers are now able to offer plans that exclude coverage of maternity, pre-existing conditions of the previous 12 months, mental health, and substance abuse.

This means that individuals paying $700 a month or more for plans with high deductibles and minimal coverage within the Obamacare Marketplace are finding that alternative plans may offer some reprieve.

Looking for more specifics on the important insurance updates that are coming up in 2019? Check out this month’s Advanced Contractor Education Course on November 28

With the amount of confusion and misleading information about health insurance, it’s important to have someone trustworthy that can help you. If you have any questions or concerns about your own coverage, local agents or brokers are able to offer expert advice at no cost to individuals. Here at Hummingbird, we are a local, grass roots agency that focuses on providing the community with the best possible tools to help keep themselves safe and healthy.

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