Health Care Reform Terminology Part I

Terminology that you will need to understand as you begin to prepare for the Affordable Care Act.

Premium Tax Credits- These will be made available to low and middle income Americans and applied to health insurance premiums.  Cost Sharing Reductions will limit a plan’s maximum out-of-pocket costs.

Grandfathered- Refers to health insurance plans that were in  effect prior to March 23, 2010 and that have not undergone specific changes.  The ACA allows grandfathered plans to be exempt from some ACA requirements.

Health Care Reform (HCR)- The changes that will occur on January 1, 2014 as a result of the comprehensive health care reform law known as the AFFORDABLE CARE ACT.

For more information on health insurance coverage in North Carolina, please visit our website at www.nchealthplans.com or call our toll free number 888-765-5400 and speak with one of our professional agents. Our agency provides coverage for health insurance in North Carolina through Blue Cross Blue Shield of North Carolina (BCBSNC). You may qualify for a 15% healthy lifestyle discount if you are in excellent health. Call us for details.

The information in this article was taken from “Health Care Reform is Coming” from BCBSNC on April 2013.

This entry was posted on Monday, July 1st, 2013 at 6:42 am and is filed under BCBSNC Insurance, Health Care Reform. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.