Would you like to view personalized South Carolina Health Exchange rates without the hassle of logging into www.healthcare.gov? Now you can!
After clicking the above, you will be taken to the South Carolina Health Exchange Rates quote engine page. Our rate tool will help you calculate health plan premiums and estimate your health insurance plan premium subsidy.
UPDATE OCtober 2014 – We expect 2015 rates to be available on or about November 5th, 2014!
The Health Insurance Exchange (also referred to as the “Marketplace”) is a new website where South Carolina residents can go to compare and enroll in health insurance plans starting in 2014. All health insurance plans offered through these Exchanges cover a set of essential health benefits, are guaranteed-issue, and offer premium subsidies for eligible residents. South Carolina residents can access the Exchange at www.healthcare.gov. Of course, before visiting the Health Insurance Exchange, we recommend you compare South Carolina Health Insurance rates on our websites quote engine.
South Carolina Health Exchange Rates – Insurance Carriers
Four insurance companies are offering individual qualified health insurance plans through South Carolina’s Health Insurance Exchange. The participating carriers include:
BlueCross BlueShield of South Carolina
Consumers’ Choice Health Plan
- Time/Assurant – NEW for 2015!
These four insurance companies will be offering 52 different individual health plans throughout the state of South Carolina. The health insurance exchange opened for enrollment on October 1. South Carolina Exchange Health Insurance Exchange policies can go into effect for SC residents as early as January 1, 2014. The initial open enrollment for the South Carolina Health Exchange for January 1st enrollments is October 1 – December 15. Enrollments completed in the initial enrollment will be effective January 1, 2014. The Health Exchange open enrollment will extend until March 31, 2014.
South Carolina Health Exchange Rates – Federal Subsidies
Beginning October 1, 2014 many South Carolina residents will be eligible to receive health insurance plan subsidies to reduce their South Carolina Health Exchange rates. South Carolina Health exchange plan subsidies will be available to South Carolina residents who earn between 100% – 400$ of the Federal Poverty Level. For an Individual, this means an income between $11, 490 – $45,960. In addition, South Carolina residents with incomes below 250% of the Federal Poverty Level may also qualify for cost sharing subsidies. Cost sharing subsidies will reduce out of pocket costs such as deductibles, coinsurance, and co-pays that South Carolina residents will have to pay to receive care. In order to receive cost sharing subsidies, it is necessary to enroll in the correct type of plan. If you qualify for South Carolina Health Exchange Subsidies, you may elect to receive your subsidies on a monthly or annual basis. If you choose to receive your health plan subsidy on a monthly basis, it will automatically reduce your monthly health plan premium. If you elect to receive your subsidy on an annual basis, you will receive your subsidy on your tax return. In addition, your subsidy may need to be adjusted during the year based on changes in income or family status. These changes make it very important to work with a licensed health insurance agent who can help advise you throughout the year.
Please feel free to CONTACT US TODAY – we can help assess your options at no cost to you.
The following table is a comparison of average Health Exchange Rates as cross the country provided by the Heritage Foundation.