Carson City, NV -
July 17, 2018The 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.