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Approved 2018 Health Insurance Rates are Now Available to the Public

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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