Individual health insurance is a type of insurance coverage that an individual purchases for himself and/or his beneficiaries/family. The ACA, or Affordable Care Act has significantly changed the way these health insurance policies are rated and the different benefits they provide. The state regulates and oversees the provisions of North Carolina health insurance policies, as the state administers.
The dramatic changes in the policies due to the ACA make the counsel of insurance advisors even more critical when selecting health insurance in North Carolina. Consult an insurance advisor or a professional insurance provider to purchase individual policies. The complexity of coverage offerings and premium cost structures requires professional
The Jordan Insurance Agency is an industry leader that has been working with all the major insurance companies, including health insurance and life plan providers in North Carolina and neighboring states for the past decade. We have an experienced team of insurance advisors willing to lend you their expertise and help you find the best coverage to match your needs as well as your budget. Individual insurance is now a necessity, especially with the rising cost of healthcare. Work with us and we will give you your best options in North Carolina and beyond.
Why Individual Health Insurance is Essential
With individual health insurance, enrollment no longer depends on a person’s medical condition. However, you must enroll during the specified open enrollment period to secure coverage for the year. Policies cover all essential health benefits, and the richness of benefits under a specific plan depends on a standard metal tier. Platinum plans cost the most but also offer the most generous benefits, covering up to 90% of medical expenses. Gold health insurance plans cover 80% of medical expenses, while silver and bronze plans cover 70% and 60%, respectively.
One category of an individual plan is the catastrophic plan. In North Carolina, as in other states, catastrophic plans meet the requirements of each metal tier but offer very limited benefits. Providers often offer this type of plan to people under the age of 30 or those with a hardship exemption due to unaffordable health coverage.
Health insurance plans provide the same set of essential health benefits, although additional items and benefits may depend on the type of plan you choose and the offerings of your policy provider. Essential benefits typically include ambulatory patient services, emergency services, maternity and newborn care, hospitalization, mental health and substance abuse disorder services, laboratory services, prescription drugs, pediatric services, preventive and wellness services, and rehabilitative and habilitative services and devices.
