The Division of Insurance has posted proposed rate changes for the individual health insurance market
CARSON CITY, NV – The Nevada Division of Insurance has received and made public the proposed health insurance rate changes from carriers on and off the Exchange for Plan Year 2019.
Based on the rate submissions the Division has received for 2019 plans, there will be two insurance companies offering plans on the Exchange with up to 15 individual health plans to choose from. The average proposed rate change for the individual market on Exchange is an increase of 1.9%
“This is the lowest proposed rate increase the Division has received since the beginning of the Affordable Care Act (ACA),” explained Insurance Commissioner Barbara Richardson. “The Division is working diligently reviewing these requests from carriers. We always caution that these proposed rates are subject to change depending on any new federal decisions that are made.”
“I am pleased with the initial proposed rate changes from insurance carriers as this is great news for Nevadans,” Governor Brian Sandoval said. “Even though there has been uncertainty in the past, these proposed filings reflect the hard work the Silver State has done to try and stabilize the health insurance market for its citizens.”
For the off-exchange market, there will be four insurance companies offering up to 41 individual health plans to choose from with an average proposed rate change of 3.1%
The Division encourages consumers to review these rate changes and submit their comments to the Division during this rate review process.
Additional information on proposed rate changes can be accessed by viewing a summary of the proposed rate changes or by visiting the Division’s website at http://doi.nv.gov/rate-filings.
Approved rates will be posted on October 2, 2018.
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 2017, the Division investigated more than 3,200 consumer complaints and recovered over $5 million on behalf of consumers. For more information about the Division of Insurance, visit DOI.NV.GOV.
