Carson City, NV December 07, 2021
Nevada’s 2021 Legislature
passed Assembly Bill 250, which allows Nevada resident Medicare Supplement
policyholders to annually shop and switch to another Medicare Supplement policy
sold in this state. The new law goes into effect on January 1, 2022, and
any replacement policy is guaranteed to be issued at standard rates, regardless
of the applicant’s health or pre-existing conditions.
“Consumers will have the
ability to review and change Medicare Supplement plans every year on their
birthday without underwriting,” said Insurance Commissioner Barbara
Richardson. “Nevada consumers now have the opportunity to review and
compare these plans to find a Medicare Supplement plan that best fits their
needs.”
Starting on the first day of
their birthday month and extending for at least 60 days thereafter, existing
Medicare Supplement policyholders may purchase a new Medicare Supplement plan,
with the same or lesser benefits, from their existing carrier or a new carrier
without underwriting. This excludes innovative benefits which covers
extra benefits such as dental, vision, hearing and gym memberships.
To help consumers with the
process of shopping and comparing Medicare Supplement plans, the Nevada
Division of Insurance provides a Medicare Supplement Insurance Premium Comparison
Guide and a Medicare Supplement Rate Lookup Tool, both of which can be accessed
through the Division’s website. You can access the Medicare Supplement
Insurance Premium Comparison Guide by visiting the Division’s website at www.doi.nv.gov, clicking on “News &
Notices” from the main navigation menu, and then select “Publications” from the
drop-down bar.
The Medicare Supplement Rate
Lookup Tool, where consumers can compare the rates of all carriers offering Medicare
Supplement plans, by zip code, can be found by clicking on the “Health
Insurance Rates” tab from the main navigation menu, and then selecting
“Medicare Supplement Rates” on the drop-down bar.
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.
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