Carson City -
June 03, 2015The Nevada Division of Insurance has received proposed
health insurance rates for plan year 2016. These proposed rates are for plans
sold both on and off Nevada’s health insurance Exchange and are for individual
and small group insurance policies.
Before companies can use these rates, they must be reviewed
and approved by the Division of Insurance. Nevada consumers can review and
comment on these rate submissions by going to the Nevada Division of Insurance
website.
“It is important that consumers have access to these rate
submissions. It is just as important that consumers have an opportunity to
comment on these proposed rates,” said Commissioner Kipper. “The Division of
Insurance will perform a thorough review of the rates before they are approved
to make sure they are not excessive, but also so they are adequate enough to
make sure the insurance companies have enough funds to pay all the claims they
are required to pay.”
There are two different ways consumers can view the proposed
rate filings: By visiting http://healthrates.doi.nv.gov
to view initial proposed 2016 premiums for specific plans or by visiting http://doi.nv.gov/rate-filings to
view the requested overall rate percentage changes carriers have submitted to
the Divisions for the individual or small group markets for 2016. Once a
consumer has selected to view a specific plan, they are encouraged to submit
comments on the bottom of the webpage, with the option of anonymity.
The 2016 individual market filings reflect 16 carriers with
297 health plans that will be available on and off the Exchange. Of those, 7
carriers and 99 plans will be offered on the Exchange, with the addition of HMO
plans from Humana and PPO Plans from Anthem. The average proposed rate change
for the individual market is 10.49%
For the small group market 16 carriers submitted 2016
filings representing 535 health plans that will be sold on and off the
Exchange. Of those, one carrier and 16 health plans will be sold on the
Exchange. The average proposed rate change for the small group market is 5.12%
There will be plans offered in all regions of Nevada for
both the individual and small group market on and off the Exchange.
The approved rates for both the individual and small group
markets will be made available to the public on the Division’s website http://doi.nv.gov/Health-Rate-Review
on October 2, for plans that are effective January 1, 2016.
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 $11.9 billion insurance industry. The division
has offices in Carson City and Las Vegas. In 2014, the Division investigated
more than 2,800 consumer complaints and recovered nearly $4 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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