There is no better time to be a member of Blue Cross NC than right now! For the first time since Blue Cross offered Obamacare plans five years ago, there will be a 5.5% average rate decrease for 2020 Affordable Care Act (ACA) plans offered to individuals. This equals means a $230 million reduction in health care costs in 2020!
This sounds exciting, but to one who is not insurance savvy, what does this all really mean? What this means is that everyone within the 100 counties in NC will see a market rate reduction, which will affect about 435,000 people within these areas. Rates will still vary according to age, location, subsidy amount and plan. Remember, your premiums will adjust annually for your age, this reduction applies to the “base premium.” So Good News Here!
Medical Loss Ratio Rebates
To best understand what this is about, let us guide you through some quick definitions.
MLR- this is the Medical Loss Ratio, which under the Affordable Care Act requires insurance companies to pay at least 80% of their premium dollars in medical claims. If they pay less than this, they are required to rebate the difference back to their customers.
As of September 30th, BCBSNC will begin mailing rebates to eligible subscribers. If you are under 65 and your monthly premiums are more than the amount of your refund, the rebates will be done via credit on your October Invoice. Nothing else is needed, if you are eligible you will be notified, if you think you are eligible and do not get notified, simply call the Member Services telephone number on the back of your member ID.
Questions ? Please feel free to contact your Trout Insurance Agent.
As families gather for thanksgiving, the last thing anyone is thinking about is car insurance. This was the ordinary case for Clarke who had a thanksgiving celebration at her house. The house was full, with aunties and uncles from the North-east of the country coming down to visit and all of her sons who had returned from college just for the break. Clarke was a successful business woman and had a love for cars. She had many different types of cars, from sports cars to SUVs and often allowed her sons to drive them when they returned from college. On the night of thanksgiving when Clarkes sons had made a plan to meet up with their friends at night at a bar to hang out, they were reader ended while they were stationary at a stop light.
Luckily Clarke had made a smart decision of keeping her kids on her insurance policy. Car insurance is very important especially when it comes to such scenarios. Car insurance helps because you pay now and save later, protect yourself and others, save time and hassle, and finally because it gives you peace of mind.
To find out more reasons about why you should buy car insurance contact a Trout Insurance agent today and let them help you in finding the best car Insurance policy for you.
Trout Insurance Team
Trout Insurance Services
Visit: 29 N Main St
Weaverville, NC 28787
Mail: PO Box 1414
Weaverville, NC 28787