Reduce BCBSNC Monthly Premium – Apply for a Federal Subsidy

With the cost of health insurance on the rise, you may find yourself looking for ways to help cut the cost.  One of the provisions of the Affordable Care Act is that the federal government now offers federal tax credits, or subsidies, to low-to middle-income individuals and families in order to help reduce the cost of health insurance. Your federal subsidy is an advance premium tax credit and is applied directly to your monthly insurance premium. Government subsidies can substantially reduce the amount you pay for your Blue Cross Blue Shield NC health plan.

To be eligible for a subsidy, however, you must meet certain requirements.

• You must be between 100% and 400% of the federal poverty level (FPL).
• You must NOT be eligible for public coverage, such as Medicaid, the Children’s Health Insurance Program,  Medicare or military coverage, such as Tricare.
• You must NOT have access to minimal essential coverage through an employer. (An exception may be made if your employer’s plan does not cover at least an average of 60% of covered benefits or if the employee’s share of the premium is more than 9.5% of his or her income.  Employers can tell you if their plans meet these criteria.)
• If you are married at the end of 2015, you must file a joint tax return.

Subsidies can be used on any plan you choose except for grandfathered plans and catastrophic plans for individuals under 30. The amount of subsidy for which you qualify is based on your annual household income and the number of people on your tax return.

Our free BCBSNC Rate Quote offers a calculator to help you determine if you may qualify for a federal subsidy.

For 2015, the subsidy guidelines are as follows based on the Federal Poverty Level Chart:

Household Size:                                 Your Income Must Fall Between:

Family of 1                                                      $11,670 – $46,680

Family of 2                                                      $15,730 – $62,920

Family of 3                                                      $19,790 – $79,160

Family of 4                                                      $23,850 – 95,400

Family of 5                                                      $27,910 – 111,640

Family of 6                                                      $31,970 – 127,880

Family of 7                                                      $35,030 – 144,120

Family of 8                                                      $40,090 – 160,360

The insurance industry has changed a lot, creating an increase in monthly premiums.  If you are looking for some relief, a federal subsidy might help. For more information on Blue Cross Blue Shield of North Carolina insurance coverage, please visit our website at www.nchealthplans.com or call our toll free number 888-765-5400 and speak with one of our experienced and professional agents. CLICK HERE to apply online in 8 minutes or less.

This entry was posted on Thursday, November 19th, 2015 at 10:13 am and is filed under Affordable Care Act (ACA), BCBSNC Insurance. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.