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With rising costs of medical expenses, it would really make sense to purchase health insurance policies to cover majority of spending used for medical and preventive care.

Consumers have the option of getting traditional health insurance and managed health care plans. Traditional health insurance provides coverage for a range of expenses, though policyholders are also required to pay deductibles that they have to pay each year out of their own pocket. The policyholder may also be required to a portion of the cost, called a co-insurance for medical services provided. On the other hand, managed care plans would require policyholders to adhere to certain processes and requirements, such as going only to primarily care providers included within its networks. There are several ways to obtain health insurance policies in the state. Consumers can choose to purchase individual health plans or participate in group plans offered by employers or associations they are associated with. The rates for these plans also vary based on a number of factors, such as health condition of the policyholder, the extent of coverage desired, and the consumer’s capability to make payments.

In case policyholders lose their jobs, state law imposed that they can still continue their coverage under the group health plans for up to 18 months. Insurance companies who offer group health policies must also offer conversion options to individual policies in case coverage under group plans is lost.

Aside from health insurance policies obtained from private insurers, residents of the state also have the option of getting health plans sponsored by the state government. For uninsured children under 19 years of age, there is the NC Health Choice for Children, so long as their family income meets the required limit. There are also Medicaid programs availability and in North Carolina, each county determines who are eligible for this program and who are not. Older people may also avail of Medicare insurance program if they are 65 years or older.

As in other states, North Carolina also imposes a free look period of 10 days from the receipt of the policy in which policyholders may opt to return the policy and ask for full refund of premium. Grace periods must also be offered for policies, though the state does not impose a specific time frame for this feature and may vary from one policy to another.

In case an insurance company goes bankrupt, its policyholders may approach the North Carolina Life and Health Insurance Guaranty Association which will pay a maximum of $300,000 of benefits per person.