Maternity with Obamacare

So it looks like the complications involved with individual maternity insurance will get much more simple after January 1st, 2014.  Maternity will now be an automatic benefit for all non-grandfathered or new health insurance policies on the 1st of next year.  That also means that even if you are already pregnant and your delivery occurs on or after the 1st, it will be covered under the provisions of the Affordable Care Act as long as you have an individual non-grandfathered health insurance policy in force.

The downside, if you're one of those who opt not to enroll in coverage during the open enrollment or subsequent annual enrollment periods, is that you won't be able to add coverage at any time.  So, if your plans are to wait and get health insurance after you find out that you're pregnant then you'll be taking a gamble.  Especially with the new subsidies available through Obamacare, not many people really has an excuse to be uninsured anymore.

As things stand now, if you apply for a maternity policy with an effective date in 2013, you may not get much benefit out of it.  You'll pay the hefty maternity rider fee for the remainder of the year, and if you deliver in 2014, the bulk of your cost would have been covered anyways.  The benefit of adding the rider this year is that prenatal care will be covered, but unless you hit your deductible before the end of the year, then the policy really won't pay for anything and then you'll have to meet your deductible in 2014 again when the policy renews.  I don't want to say not to get a maternity rider if you plan on getting pregnant this year, but the costs and benefits should be weighed with an agent first to determine if it's in your best interest.

If you'd like my advice feel free to visit my office or give me a call at: Blue Cross Blue Shield Authorized Agency - Goebelt Health Insurance, 212 S Tryon St, Suite 1605, Charlotte, NC 28281, 704-733-9015. Health Insurance Charlotte NC

If you'd like to stay abreast of future Obamacare updates, visit my website at: Obamacare NC.

Will Obamacare make my health insurance cost more?

Yes for some and no for some.  If you have low income or if you have serious health issues, then Obamacare will make your health insurance cost less.  If you make more than 400% of the federal poverty level or if you are in good health, chances are Obamacare will make your rates go up.  400% of the federal poverty level in 2013 is $45,960 for one person, $62,040 for two people, $78,120 for three people, and $94,200 for four people.  Most people will fall below the 400% FPL threshold to be eligible for a subsidy from the government.  If you are between 100% and 400% FPL, then you will be eligible for a subsidy, which is graduated based on your income.  The net effect of the subsidy will be that someone at 100% of FPL will pay 2% of their annual income for health insurance.  As you make more, you pay a greater percentage until you reach 9.5% of your annual income at 400% FPL.

I real world example of the subsidy in action might be helpful.  If an individual makes 100% FPL or $11,490 per year, then their annual expected health insurance premium would be $229.80 per year or $19.15 per month for the second lowest cost silver plan under Obamacare.  On the flip side, if an individual is making $45,000 per year (just under 400% FPL), then their expected annual health insurance premium would be $4,275 or $356.25 per month under Obamacare for the second lowest cost silver plan.

For more information on health insurance changes in 2014 or to apply for Obamacare through Blue Cross Blue Shield please visit the following link: Obamacare NC or Health Insurance Charlotte NC or visit us at:  Blue Cross Blue Shield Authorized Agency - Goebelt Health Insurance, 212 S Tryon St, Suite 1605, Charlotte, NC 28281, 704-733-9015.

When Can I Get Obamacare?

Obamacare health insurance through Blue Cross Blue Shield NC will become available for enrollment on October 1st, 2013 for January 1st, 2014 effective dates.  Open enrollment will last for six months, from October 1st, 2013 to March 31st, 2014.  After the initial open enrollment period, there will be an annual open enrollment which will last from October 15th to December 7th each year.  Changes made during the annual open enrollment will take effect on January 1st of the following year.  The purpose of the annual enrollment period is to allow you to make policy changes or to change health insurance companies.

For more information on Obamacare in North Carolina or to get quotes or apply, visit the following link:  Obamacare NC