Changes to Individual Policies with Blue Cross Blue Shield of SC

Blue Cross Blue Shield of SC recently announced a series of changes to their individual health insurance plans that will take effect for new plans beginning October 1. Policies already in force on that day will not be effected (they will be grandfathered).

The most significant change is that all policies will now be “single contract” – meaning that there will only be one individual covered on each policy. A family of four, then, will have four separate policies. In our view, this will be a big problem for families who would like to be covered on an HSA-qualified plan, which have aggregate deductibles (meaning one deductible covers everyone in the family). Now, instead of having one family deductible of $5200, for example, a family of four would have four separate policies with a $2600 deductible, thus doubling their potential out of pocket exposure ($2600 x 4 = $10,400). Up to this point, Blue Cross has been a strong option for individuals and families in South Carolina looking for HSA-qualified plans. For families looking for this kind of plan, we encourage you to contact us to set up coverage with Blue Cross by September 15!

A second change will significantly impact a particular segment of the population. Blue Cross Blue Shield of SC will no longer offer maternity coverage on individual health insurance policies beginning October 1. The unfortunate result of this decision is that the options for maternity coverage in the individual health insurance market will be extremely limited. If you have any interest at all in individual health insurance that will cover maternity, you need to contact us and get this set up by September 15!

There are other changes related to the first wave of regulations related to the health reform law passed earlier this year, but the two changes listed above will have the most dramatic short-term impact. Contact AC Forrest with questions or to learn more.