Contact: Yeraldin
Deavila, Public Information Officer
Phone: (775)
687-0772
E-mail: ydeavila@doi.nv.gov
FOR IMMEDIATE RELEASE – October 2, 2017
Approved 2018 Health Insurance Rates are Now Available to the Public
CARSON CITY, NV – The Division of Insurance has posted the approved
2018 health insurance rates for all plans in the Individual and Small group
markets on and off the Exchange at healthrates.doi.nv.gov.
“It is imperative that consumers
shop for a health insurance policy for next year during Open Enrollment
beginning November 1 ending December 15,” said Insurance Commissioner Barbara
Richardson. “There are many changes taking place in the health insurance market
next year that consumers should be aware of. Consumers should not just focus on
the cost, it is important to review and understand what is covered under each
policy to make the best choice that fits their needs and the needs of their
families.”
For 2018 there are seven
insurance companies offering plans on and off the Exchange in the individual market
in Nevada. The approved average rate change in the individual market on and off
the Exchange is 31.6%.
On the individual Exchange market,
there are two insurance companies offering plans: Health Plan of Nevada and
SilverSummit Health Plan. The average approved rate increase for Health Plan of
Nevada is 36.8%. Because SilverSummit Health Plan is new to the Exchange in Nevada
there is not a 2017 rate for comparison.
“Over 80 percent of Nevada
Exchange consumers receive financial assistance to help pay for their monthly
premiums,” said Heather Korbulic, Executive Director for the Silver State
Health Insurance Exchange. “It’s important for consumers to understand that when
rates increase, so does the amount of financial assistance. This means the
impact of these rate increases will be minimal on most of our consumers. The
Exchange encourages consumers to get connected to free in-person enrollment
assistance by visiting our website at www.nevadahealthlink.com
in order to find a plan suitable for their individual and family’s needs.”
Consumers are also encouraged to
visit the Division’s NV Insurance 101 website at http://insurance101.nv.gov/
to learn more about what health insurance options are available for open
enrollment, how to shop for a health insurance, and other important topics.
To view the rates and plan
information, visit www.doi.nv.gov, click on “Health
Insurance Rates” in the main navigation menu. From the “Health Insurance Rate
Review” page, click on “Search for Health Insurance Rates.”
Rates are displayed by age and
county, and are for non-smokers. The search results are displayed and then
sortable by plan name, carrier name, metal tier, and whether it is offered on
or off the Exchange. This allows the search to be limited for quicker focused
results.
About the Nevada Division of Insurance
The State of Nevada Division of
Insurance, a Division of the Nevada Department of Business and Industry,
protects the rights of Nevada consumers and regulates Nevada’s $14 billion
insurance industry. The Division of Insurance has offices in Carson City and
Las Vegas. In 2016, the Division investigated more than 3,200 consumer
complaints and recovered nearly $5 million on behalf of consumers. For more
information about the Division of Insurance, visit DOI.NV.GOV or download the
Division’s smartphone app NDOI Connect today in the Apple App Store and Google
Play.
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