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Division of Insurance announces approved health insurance rates

Feds sue to halt health insurer combos, see threat to consumer
Posted at 1:47 PM, Sep 30, 2020
and last updated 2020-09-30 16:47:12-04

The Division of Insurance posted final approved health insurance rates on its website.

As Open Enrollment approaches, consumers can begin comparing health insurance plans and rates a month ahead of the Nov. 1 registration date.

For plan year 2021 consumers can choose from a total of nine insurance companies offering as many as 111 plans in the individual health insurance market in Nevada.

On the Silver State Health Insurance Exchange (“Exchange”), Nevada’s state agency that helps connect individuals to budget-appropriate health coverage through the online marketplace Nevada Health Link, there are five insurance companies offering plans: Health Plan of Nevada, SilverSummit Health Plan Inc., HMO Colorado Inc. dba HMO Nevada, Friday Health Plans of Nevada, Inc., and SelectHealth, Inc., offering up to 50 plans. The average approved rate increase on the Exchange is 4.2%.

Although consumers are encouraged to shop with Nevada Health Link first to find out if they qualify for subsidies, consumers can also view plans offered outside the Exchange.

Off the Exchange, there are six insurance companies: Health Plan of Nevada, Sierra Health & Life, SilverSummit Health Plan Inc., SelectHealth, Inc., Hometown Health Plan (HMO company), and Hometown Health Providers (PPO company), offering up to 61 plans. The average approved rate increase for off-Exchange is 5.0%.

There are several ways consumers can view what their options are before Open Enrollment. Window shopping on Nevada Health Link will be available starting Oct. 1

For more information, visit Nevada Health Link.

Open Enrollment begins Nov. 1 and has been extended until January 15, 2021.