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BCBS of NC decreasing premiums for health insurance

by Cedric Guzman

Open enrollment for the Health Insurance Marketplace in North Carolina begins on November 1st, and this year there are eight companies participating. These companies are required to submit their proposals to the Department of Insurance for approval. So far, five of the companies have proposed premium increases, while three have proposed decreases. Of those three, one has already been approved, and coincidentally, it is the company with the largest customer base.

Blue Cross Blue Shield of NC, currently projected to have 358,462 members in Marketplace plans, will be offering health insurance with a 4% premium reduction. While price is an important factor, it is also crucial to ensure that your primary care doctor or preferred physician is still within the network of the plan you choose for next year. Being in-network means you can continue seeing your current healthcare provider without incurring additional costs.

However, what if you already receive health benefits through your employer? Can you switch to marketplace insurance and take advantage of the Blue Cross deal? According to Morgan Campbell of Alliance Insurance Services, it can be a tricky situation. There is a formula that needs to be applied to determine if your employer’s insurance is deemed unaffordable.

Over the next month, we can expect confirmation about other companies that may be offering decreased premium rates. This information will be important for individuals looking to select the best health insurance plan during the open enrollment period. The marketplace provides an opportunity for individuals to compare and choose the most suitable insurance coverage for their needs.

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