Contact: David Cassetty, Deputy Commissioner
Phone: (702)
486-4379
E-mail: dcassetty@doi.nv.gov
FOR
IMMEDIATE RELEASE– October 3, 2022
Nevada Consumers encouraged to view and compare health
insurance plans and rates for plan year 2023
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 diligently worked to review the carrier
submissions for plan year 2023 and now offers consumers the ability to review
the products and pricing for the upcoming plan year,” said Insurance
Commissioner Barbara Richardson. “By taking advantage of this opportunity to
window shop, Nevada consumers have the opportunity to review their current plan
against the other available plans to make early and informed decisions on which
health coverage plan best fits their needs and the needs of their families.”
Overall, for Plan Year 2023 consumers can choose from a
total of 10 insurance companies offering as many as 221 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 9.0 percent.
On- Exchange:
The average approved rate increase for health plans sold
through Nevada Health Link is 9.2 percent. Seven insurance companies will be
offering up to 163 health plans. Those insurers include:
Friday Health Plan
HMO Nevada
Health Plan of Nevada
Selecthealth
SilverSummit
Aetna Health
Hometown Health Plan
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 7.4
percent. Nine insurance companies will be offering up to 58 individual health
plans from which consumers can choose. Those insurers include:
Friday Health Plan
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, October 1, 2022. According to Nevada Health Link window
shopping allows consumers the opportunity to get a first glimpse of all 2023
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, 2022, through January 15,
2023.
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 $20 billion insurance industry. The Division
of Insurance has offices in Carson City and Las Vegas. In 2021, the Division
investigated 2,288 consumer complaints, answered 10,200 inquiries, and
recovered $3.3 million on behalf of consumers. For more information about the
Division of Insurance, visit DOI.NV.GOV.
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