In late 2012, it was North Carolina’s intent to establish a state-federal partnership Health Insurance Marketplace. However, in early 2013, the state abandoned its efforts to establish a partnership exchange and gave full control over to the federal government in setting up a Marketplace.
Like all other states, all North Carolina residents must have health insurance coverage by January 1, 2014. Any individual who does not purchase a plan through their employer or the Health Insurance Marketplace, or does not receive coverage through the federal government (via Medicare or Medicaid) by March 31, 2014 could be liable for a penalty from the IRS.
Residents of North Carolina should also note that new healthcare legislation under the Affordable Care Act will not expand NC’s Medicaid program at the present time. Any individuals who are currently enrolled in Medicaid should continue to qualify for Medicaid, given that household income and family size have not changed.
The Henry J. Kaiser Family Foundation offers a useful subsidy calculator to help individuals and families determine their health insurance premium under the new healthcare law. Try it below:
At Independent Benefit Advisors, we’re ready to answer any questions you may have about healthcare reform and how this new legislation could affect your health insurance coverage or health insurance rates in NC.
Please give us a call today at (919) 303-9690 — we look forward to working with you.
For nearly 20 years, Independent Benefit Advisors has provided insurance assistance to individuals, families and businesses in Apex, Raleigh, Durham, Cary, Charlotte, Fuquay-Varina, Greensboro, Rocky Mount, Sanford, Wake Forest, and other North Carolina locations.