FOR IMMEDIATE RELEASE– October 1, 2021
Division announces approved health insurance plans and rates for the individual health insurance market
Nevada Consumers encouraged to view and compare health insurance
plans and rates for 2022
Carson City, NV –
In preparation for Open Enrollment next month, the Nevada Division of Insurance
has made public the approved health insurance rates for consumers who shop on
the individual health insurance market, both on and off the Silver State Health
Insurance Exchange (Exchange), which is the state agency that oversees and
connects eligible Nevada residents to affordable health and dental plans through
Nevada
Health Link.
“The Division worked hard during the rate review process to
make sure rates were adequate and not excessive,” said Insurance Commissioner
Barbara Richardson. “Now it is up to Nevada consumers to review and compare
these plans to find health coverage that best fits their needs and the needs of
their families. There are many free resources out there that can help them with
this task.”
Overall, for Plan Year 2022 consumers can choose from a
total of 10 insurance companies offering as many as 180 plans in the individual
health insurance market in Nevada. The approved average rate increase in the
individual market, both on and off the Exchange, is 4.4 percent.
On- Exchange:
The average approved rate increase for health plans sold
through Nevada Health Link is 4.2 percent. Seven insurance companies will be
offering up to 126 health plans, an increase compared to 50 plans last year. Those
insurers include:
Friday Health Plan
HMO Nevada
Health Plan of Nevada
Selecthealth
SilverSummit
Aetna Health (new to the Exchange)
Hometown Health Plan (new to the
Exchange)
“Nevada
Health Link is excited to be able to offer many more health plan options from
an expansion of new carriers joining Nevada’s health insurance market,” said
Heather Korbulic, executive director of Silver State Health Insurance Exchange.
“As always, we want to highlight that rate increases will have little to no
impact because when rates increase so do the subsidies that help eligible
Nevadans cover their monthly premium costs."
Off Exchange:
Consumers are encouraged to first shop with Nevada Health
Link to find out if they are eligible for subsidies, because Nevada Health Link
is the only entity that offers federal financial assistance (subsidies) for
affordable health insurance. However, consumers can also view plans offered
outside of the Exchange should they not qualify for subsidies or wish to see
other options.
The average approved rate increase for off Exchange is 4.9
percent. Eight insurance companies will be offering up to 54 individual health
plans from which consumers can choose. Those insurers include:
Hometown Health Plan
Health Plan of Nevada
Hometown Health Providers
Rocky Mountain
SelectHealth
Sierra Health & Life
SilverSummit
Aetna Health
There are several ways consumers can view what their options
are before Open Enrollment begins. Nevada Health Link offers a “window shop”
period starting today, October 1, 2021. According to Nevada Health Link window
shopping allows consumers the opportunity to get a first glimpse of all 2022
health and dental plans, including details about monthly premiums, deductibles
as well as obtain a general idea of how much financial assistance they may be eligible.
For more information visit Nevada Health Link at https://www.nevadahealthlink.com/.
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.
The Division also encourages consumers to follow the
Division’s Facebook and Twitter accounts beginning in October where it will be breaking
down important information for consumer to help them shop for health insurance.
Open Enrollment begins November 1, 2021 through January 15,
2022.
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 $18 billion insurance industry. The Division of
Insurance has offices in Carson City and Las Vegas. In 2020, the Division
investigated more than 2,300 consumer complaints, answered over 10,000
inquiries, and recovered over $4.5 million on behalf of consumers. For more
information about the Division of Insurance, visit DOI.NV.GOV.
###