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Trout Insurance Blog

Blue Cross NC to Lower ACA Rates for 2020  &  MLR Rebates

9/12/2019

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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. ​

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​Visit: 29 N Main St
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“We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or call 1.800.Medicare to get information on all of your options.”
Trout Insurance is an independent authorized agency licensed to sell and promote products from Blue Cross and Blue Shield of North Carolina (Blue Cross NC). The content contained in this site is maintained by Trout Insurance. Blue Cross and Blue Shield of North Carolina is an independent licensee of the Blue Cross and Blue Shield Association. ®, SM Registered marks of the Blue Cross and Blue Shield Association.”
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  • Insurance
    • Home & Auto Insurance >
      • Home & Auto Intro
      • Travelers - Customer Services
      • Hartford - Customer Services
      • Nationwide Customer Service
      • National General Customer Service
    • Health Insurance >
      • ACA 2025 Checklist
      • Blue Cross Blue Shield Customer Services
      • Aetna/CVS Customer Services
    • Medicare
    • Accident & Hospital >
      • Accident Plans
      • Critical Illness
      • Long-Term Care
      • Disability Insurance
    • Pet Insurance
    • Life Insurance
    • Travel Medical and Trip Protection
    • Dental and Vision
    • Employee Benefits
    • Business Owners >
      • Group Health Insurance
      • Commercial Property & Liability
      • Business Overhead Expense Disability
      • Disability for Business Owners
      • Critical Illness
    • Short Term Health
  • Trout Team
    • Our Story
    • Dave Trout
    • David Hanson
    • Idelle Davids
    • Linnea Conway
    • Jan Trout
    • Steve Dillingham
  • Resources
    • Employee Success
    • Fixing the ACA "Family Glitch"
    • Medicaid Expansion
    • Client Center
    • Newsletter
    • Thank You
    • Reviews
    • Blog
    • Articles >
      • Fine Homes WNC
      • Privacy Policy
      • Insurance Partners
      • No Income Cap
      • ACA Income Verification
      • BCBS Online Setup
      • APTC Income 2023 & Tax Form 1040
      • Prior Agents
      • Lost Subsidy
  • Community
    • Built to Last
    • Candlelight Stroll
    • Music on Main
    • Goombay & YMI
    • Weaverville Primary Spring Fling
    • 50+ WNC Articles
    • Understanding Medicare 2024
    • Mural on Main Street
    • Alignment's 5-Star Switch
    • YMI Winter Coat Drive
    • Employer Networking w/ Just Economics
    • Blue Ridge Pride Festival
    • Medicare Seminar
    • Art in Autumn + MANNA
    • Western Women's Business Center Conference
    • Back to School
  • Contact Us