If you're self-employed, you can use the individual Health Insurance Marketplace to enroll in flexible, high-quality health coverage that works well for people who run their own businesses.You’re considered self-employed if you have a business that takes in income but doesn’t have any employees. You can enroll through the Marketplace if you’re a freelancer, consultant, independent contractor, or other self-employed worker who doesn’t have any employees.
When you fill out a Health Insurance Marketplace application, you’ll have to estimate your net self-employment income. Marketplace savings are based on your estimated net income for the year you’re getting coverage, not last year’s income. When you’re self-employed, it can be hard to estimate your income for the coming months or year. Learn how to estimate your income if you’re self-employed.
If your spouse’s plan offers coverage to spouses and dependents, in most cases you won’t qualify for premium tax credits and other savings on a Marketplace plan.
If your spouse’s job-based insurance doesn’t cover spouses and dependents, then you can buy a Marketplace plan for you and your dependents. Depending on your household income, you may qualify for a premium tax credit and other savings.
In most cases, a married couple has to file a joint federal tax return to be eligible for premium tax credits and other savings on Marketplace plans. Learn about the limited exceptions to the joint-filing rule.
Among those who qualify for subsidies, the average cost of health insurance in North Carolina is $68.00 per month. However, rates vary based on income, and the cost can be as low as $0 per month!
The Affordable Care Act (ACA) subsidies are tax credits that allow you to pay less for a health insurance plan purchased on an ACA marketplace.
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If you don’t have health coverage through an employer and you’re not eligible for Medicare or Medicaid, you may qualify for a health care subsidy. Established by the Affordable Care Act (ACA), this federal assistance covers some of the premium and out-of-pocket costs of health coverage. There are two types of subsidies offered:
Advanced Premium Tax Credit (APTC): This subsidy helps lower your monthly insurance premiums. It’s based on the cost of health coverage in your state, your estimated income and your household size, which includes you, your spouse and any tax dependents.
Cost-Sharing Reductions (CSRs): This subsidy offers extra savings that reduce out-of-pocket costs by decreasing deductibles, coinsurance, copays and out-of-pocket max. If you qualify for CSRs based on your income, you must enroll in a plan that falls in the Silver ACA level to enjoy these extra health insurance savings.
The best part is you may be eligible for both types of subsidies, which can dramatically lower your annual health insurance costs.
Unlike the "boiler room" auto dialer call center agents, WE LIVE AND WORK in North Carolina!
When you call us, you'll speak with a North Carolina licensed insurance agent to help you traverse NC's unique insurance landscape. In fact, many times you'll reach principal agent and Southport native Wolff Shipp directly. We're obsessed with excellent customer service! If we're on the other line and can't take your call, we promise to call you back the same day! Send us a text or email, and we'll respond almost immediately. That's our commitment to you!
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