Contact: Yeraldin
Deavila, Public Information Officer
Phone: (775)
687-0772
E-mail: ydeavila@doi.nv.gov
FOR IMMEDIATE RELEASE– October
1, 2019
Nevada Division of Insurance reveals
approved 2020 Health Insurance Rates
Carson City, NV – The
Division of Insurance (‘Division”) has posted the approved 2020 health
insurance rates for all plans in the Individual Health Insurance Market at healthrates.doi.nv.gov and encourages consumers to review this information
before the Open Enrollment Period begins.
For 2020, consumers have the option of buying health
insurance from a total of seven insurance companies offering as many as 60 plans
on and off the Exchange in the individual health insurance market in Nevada.
The approved average rate increase in the individual market, both on and off
the Exchange is 1.7%
There are three insurance companies offering plans on the
Silver State Health Insurance Exchange (“Exchange”): Health Plan of Nevada, SilverSummit
Health Plan Inc., HMO Colorado Inc. dba HMO Nevada, offering up to 27 plans.
The average approved rate increase on the Exchange is 1.6%
“Every year the Division publishes this information in
advance so that consumers have an opportunity to preview plans and their rates,
said Insurance Commissioner Barbara Richardson. “This is a good time to begin comparing
available plans and to visit the new State Exchange website to be better
prepared for Open Enrollment.”
Off the Exchange, there are four insurance companies: Health
Plan of Nevada, Sierra Health & Life, Hometown Health Plan (HMO company),
and Hometown Health Providers (PPO company) offering as many as 33 plans. The
average approved rate increase for off-Exchange is 1.9%.
There are several ways consumers can view what their options
are before Open Enrollment begins November 1, 2019. For on Exchange plans, the
Silver State Health Insurance Exchange, the state agency that connects eligible
Nevada residents to qualified health plans through the online marketplace,
Nevada Health Link, is excited to announce that Nevada is now a fully
operational State Based Exchange (SBE). Nevadans seeking coverage on the
Exchange will enroll at NevadaHealthLink.com
and not the Federal Health Insurance Marketplace, HealthCare.gov. Consumers who
plan on shopping or re-enrolling on Nevada Health Link are encouraged to start
their research and planning process early.
Window shopping on the new SBE platform will be available
starting Oct. 3rd. Nevada Health Link always encourages consumers to use the
free assistance of a licensed enrollment professional or call 1-800-547-2927.
Otherwise, consumers shopping off-exchange can view approved
rates and plan information by visiting the Division’s website at www.doi.nv.gov, clicking on “Health Insurance Rates” from 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 the product is offered on or off the
Exchange. This allows the search to be limited for quicker focused results.
Because every year there is different market information,
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 health insurance, and other
important topics.
Open Enrollment begins November 1, 2019 and ends December
15, 2019.
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 2018, the Division
investigated more than 3,100 consumer complaints and recovered over $8.4
million on behalf of consumers. For more information about the Division of
Insurance, visit DOI.NV.GOV.
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