Changes at the Top–What’s the Impact?

Article Highlights

• If you previously purchased your medical coverage through an individual health policy, you should go ahead and re-enroll for 2017.
• Blue Cross and Blue Shield is the only health insurance provider in most of the state of North Carolina, with Cigna offering plans in areas around Raleigh.
• Shop around. Get quotes. You can see the available BCBSNC plans and prices here.

The election of Donald Trump has created quite a stir. His campaign promise of immediate change to health care has many of us scrambling to figure out what to do next. So what steps should we be taking now for next year?

Go ahead and enroll for your healthcare. The wheels of government turn slowly, and any elimination of the ACA will have to come with an alternative that hasn’t even been designed yet. We simply can’t act on what may be, but we need to act on what actually is. So, if you got your medical coverage through an individual health policy, you should go ahead and re-enroll for 2017. Just what that looks like can vary, especially for North Carolina:

• If you got your coverage directly from a carrier, that carrier may or may not still be offering plans in our state. You should have already received some communication about whether or not you can renew. You should shop your plan and make sure it still provides the value you want.
• If you got your coverage through the ACA marketplace, there are several situations that may require your attention:
  • Neither Aetna nor United Healthcare will be offering policies through the marketplace any longer. That leaves Blue Cross and Blue Shield as the only provider in most of the state (Cigna is offering plans in areas around Raleigh).
  • Whether you are on a plan from one of these companies through the marketplace or not, you will be receiving a lot of communication about your options for next year from the marketplace and Blue Cross Blue Shield of NC.   If you enrolled though the marketplace and you do nothing, you will be enrolled in a Blue Cross Blue Shield of NC plan that is somewhat similar to your 2016 plan. That plan may or may not fit your needs for 2017.

Confusing?  Yes. Important?  Yes!

Understanding exactly what your health care needs are can be challenging, and getting the wrong plan can be expensive.  We recommend doing a couple of things:

• Get a handle on your health. How much health care did you need in 2016? What do you anticipate in 2017?
• Understand what is available.  The ACA’s website – www.healthcare.gov – offers lots of good information on this topic.
• Get your stuff together. Gather the important documents you may need to enroll, or re-enroll. (Check out the checklist here.)
• Understand your premium costs. Get quotes. You can see the available BCBSNC plans and prices here.
• Want more help? Give us a call. Doing your homework in advance will help us help you through the process and make it as painless as possible.

Remember, in order to get your 2017 coverage to start on January 1st, you must take action before December 15^th. Enrolling after that will create a start date of either February 1^st or March 1^st.

Richard Latorre is President of Latorre Insurance, a full-service, independent insurance brokerage in North Carolina. Since June of 2003, his agency and its team of property, liability, health and life insurance agents and customer service representatives have served the insurance needs of thousands of clients in both North Carolina and South Carolina.