Nevada health insurance premiums expected to rise 17.5%

Premiums could rise dramatically for Nevadans who get medical insurance through Nevada Health Link, the state suggests.

Nevada Health Link, formally known as Silver State Health Insurance Exchange, is the state's Affordable Care Act marketplace.

On July 31, Nevada Division of Insurance announced that carriers offering individual market plans through the exchange have proposed an average premium rate increase of 17.5%.

That is a significantly higher rate hike compared to recent years. A year ago, Nevada Division of Insurance announced a proposed average rate increase of 7.11% for 2025.

The proposed rate hikes in Nevada are on track with national expectations. KFF reported that, among the 19 states whose proposed rate changes were available in mid-July, the median for premium increase requests was 15%.

Insurers have cited the expiration of enhanced premium tax credits and the impact of tariffs as reasons for the hike, according to KFF.

The enhanced premium tax credits were enacted in 2021 as part of pandemic relief measures, and increased the dollar amount of credit ACA enrollees received while also relaxing eligibility requirements.

The enhanced credit was extended under the Inflation Reduction Act of 2022, but will expire at the end of 2025.

Nevada's 17.5% proposed increase rate only reflects adjustments to plans currently being offered.

It does not consider rates for new plans, such as the Nevada public option plans scheduled to be available this fall for coverage starting in 2026.

Titled Battle Born State Plans, these public-option plans must cover the same essential benefits as other exchange plans but "must meet specific premium reduction targets, meaning more Nevadans may have access to affordable coverage, regardless of income," according to a Nevada State Health Authority statement that accompanied the announcement about proposed rate hikes.

Nevada's public option was greenlit during the 2021 Legislative Session through a bill sponsored by Senate Majority Leader Nicole Cannizzaro and supported only by Democrats. It was approved by the federal government early this year. Analyses estimated that public option plans could offer plans 15% cheaper than average over the next four years.

A spokesperson for Nevada Division of Insurance on July 31 said it is unable to provide additional information about how the public options plans will compare to plans currently on the exchange because rates have not been finalized.

Approved rates for all plans will be available Oct. 1.

In the meantime, the Division of Insurance is inviting consumers to weigh in on proposed rate changes by submitting comments on its website. The website includes proposed rate hikes by carrier.

Open enrollment begins Nov. 1 for coverage beginning Jan. 1, 2026. The open enrollment period ends Jan. 15, 2026.