Affordable Health Insurance in North Carolina

Affordable Health Insurance in North Carolina

The state of North Carolina struggles with a hefty uninsured rate. Sitting at around 11 percent, this leaves millions of North Carolinians vulnerable to the dangerous financial medical problems out there. The amount it costs to even heal from a broken arm is enough to bankrupt people. Were you to need medical care because of an injured you’d have to drop a minimum of 2,300 dollars, but this is without the use of surgery. With the inclusion of surgery, then you’d have to spend around 13,500 dollars for recovery. Considering the state of most people uninsured, this is not really an option for them to contemplate.

Low-Income Individuals

People living with less money than the nation average struggle everyday with paying their bills. Whether it’s healthcare bills or money for groceries, these people are put in a position where they have to decide what is of utmost important to them. Unfortunately, with thousands of people making less than the federal poverty level, these people see health insurance as a luxury they can’t afford nor see value in.

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***STYLE ELEMENT (PRO TIP: WHAT IS THE FEDERAL POVERTY LEVEL?) Trying to find a way to combat the “War on Poverty” this identification system was made. President Lyndon B. Johnson wanted to use the Federal Poverty Level (FPL) to identify any themes the government could counter. Specific programs now use the FPL as a way to distinguish who deserves subsidies and help from the government. Currently, the FPL sits at 12,140 dollars for an individual. To determine the FPL for families you will just need to add 4,320 dollars per additional household member. ***

As a matter of fact, most adults will insure their children, but not themselves because of the high costs of healthcare. Presently, 15 percent of adults go without coverage, but their children will. However, this doesn’t change the fact a lot of these people will delay care because of high costs. 23 percent of the uninsured population postpone seeking care because of costs, and another 20 percent avoid a needed medical service because they couldn’t afford it.

Although, the inclusion of health insurance will deduct the prices normally seen by over half. When deciding on a service, you’ll have to recognize how much you’ll want to spend in monthly premiums and out-of-pocket. Picking this is done through the type of “metal” you choose. Thankfully, there are health insurance companies offering metal plans incredibly cheaper than the nationwide average. Insurance Line One provides plans as low as 150 dollars, meaning even those under the FPL will be able to afford it.

The Types of “Metals”

You will be given four choices to pick from; bronze, gold, silver and platinum. Now, the more glamorous you go in “metals”, the more you’ll pay in monthly premiums, but less out-of-pocket. For instance, picking a bronze plan will cost 388 dollars a month, but they’ll cover, at most, 60 percent of the original bill. Silver packages will pay for 70 percent of the costs at a solid monthly fee of 428 dollars. Gold services need 507 dollars a month to pay for 80 percent of the costs. Finally, platinum packages require the most in monthly premiums, but you’ll only have to pay for 10 percent of the bill; leaving the rest for your healthcare provider to pay off for a measly 588 dollars a month.

Looking back at the cost of an injured arm needing surgery—an estimated 13,500 dollars—you’ll see you will only have to pay for 1,350 dollars to be back to normal on a platinum plan. However, platinum plans are for people with much more frequent medical needs than the average person. People who want to save the most, and plan on seeing a doctor only for worst-case scenarios should choose a bronze plan. A platinum plan will save the most in out-of-pocket spending, but a bronze plan will save the most on monthly premiums and on your annual deductible.

What Happens If I Do Go Uninsured?

Going uninsured can seem like a huge benefit for many people. After all, you don’t plan on getting sick nor being around situations where you can get hurt. Nonetheless, accidents and disease aren’t planned nor do they care who they affect. An estimated 3,690 people die a year because of unintentional falls. It’s why health insurance is mandatory in the modern day. The costs for medical treatment is way too high for people to pay themselves, and you’ll also be given a fine for going uninsured.

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The Affordable Care Act implemented a variety of different policies on the healthcare field. It allowed families to save more money getting coverage and prevented health insurance companies from discriminating against those who can and can’t have protection. Additionally, it included a fee for going uninsured. You’ll be shown two options, but the government will pick the more expensive option of the two. Either, 2.5 percent of your annual salary last year or 695 dollars per person uninsured.

Not only will you have to pay the heavy medical bill, but also pay a fine for not having coverage. Altogether, you medical bill will be more than a year’s worth of payment for healthcare protection, but without any of the benefits. Thankfully, you won’t need to worry about this because there are health insurance companies with the goal of making sure everyone can acquire coverage.

Finding the Best Health Insurance

There are copious amounts of organizations trying to sell you their package and why they’re the best. Yet, they still don’t give enough of an incentive to choose theirs. Fortunately, there are healthcare providers who want to make you sure are happy and protected with a coverage of your choosing. Insurance Line One carefully organizes their catalog in a easily navigable way to prevent confusion.

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After all, health insurance can be confusing at times. There are various policies you have to learn and regulations you have to follow or else you’ll end have to spend more money than you intended. Thankfully, Insurance Line One wants to prevent this, which is why they ensure everyone has the ability to apply at any time of the year. Providing you with as much time possible through their open enrollment program, you will never be denied coverage because you didn’t know there was a deadline.

Sources:
https://www.kff.org/other/state-indicator/total-population/?currentTimeframe=0&sortModel=%7B”colId”:”Location”,”sort”:”asc”%7D
https://www.thebalance.com/federal-poverty-level-definition-guidelines-chart-3305843
http://nciom.org/wp-content/uploads/2018/02/CHRC_final.pdf
https://www.kff.org/uninsured/fact-sheet/key-facts-about-the-uninsured-population/

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