Carson City, NV August 16, 2021
Starting today,
Nevada consumers who shop on the individual health insurance market can view
requested rate changes from health insurance companies interested in
participating in the individual health insurance market for Plan year 2022
(PY22).
The Nevada
Division of Insurance (Division) has received and made public on its website proposed health
insurance average rate changes for plans compliant with the Affordable Care Act
(ACA) sold on and off the Silver State Health Insurance Exchange (Exchange),
the state agency that oversees and connects eligible Nevada residents to
affordable health and dental plans through Nevada Health Link.
“The Division is
committed to being transparent in the rate review process and is working
diligently in reviewing these requests from carriers,” said Insurance
Commissioner Barbara Richardson. “As always we encourage consumers to get
involved in the process, review these proposed changes and start thinking about
enrolling in health insurance when Open Enrollment begins on November 1.”
Based on rate
filing submissions the Division received for PY22, overall, in the individual
market, the average rate change is 4.2 percent with a total of nine companies
and 138 metallic plans from which consumers can choose.
The proposed
average increase for health insurance plans sold On-Exchange through Nevada Health Link is 4.1 percent.
Seven insurance companies submitted proposed rate filings with up to 87
individual health plans from which consumer can choose. Those insurers are as
follows:
- Health Plan of Nevada
- SilverSummit
- HMO Nevada
- SelectHealth
- Friday Health Plan
- Aetna Health
- Hometown Health Plan
The proposed
average rate increase for the Off-Exchange market is 4.9 percent. Seven
companies submitted proposed rate filings with up to 51 individual health plans
from which consumer can choose. Those insurers are as follows:
- Health Plan of Nevada
- Sierra Health & Life
- SilverSummit
- Hometown Health Plan
- Hometown Health Providers
- SelectHealth
- Aetna Health
The Division is
currently reviewing such requests but would also like consumer’s input on the
proposed rate changes. The Division encourages consumers to review these rate
changes and submit their comments through the Division’s website before rates are
approved later in the month.
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 1, 2021.
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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