Summary of Proposed Health Insurance Rate Changes for Exchange Carriers Are Now Available to the Public on the Division’s Website

CARSON CITY, Nev., June 30 -- The Nevada Department of Business and Industry's Insurance Division issued the following news release:

The Nevada Division of Insurance posted a summary of proposed rate changes for Plan Year 2018 on the Division's website (http://doi.nv.gov/uploadedFiles/doinvgov/_public-documents/News-Notes/PY2018%20On%20Exchange%20Submissions.pdf). These proposed rate changes are for plans sold on the Nevada's health insurance Exchange in the individual market.

"Posting these rate changes on the website allows the Division to be transparent with Nevada's consumers so that they have an opportunity to review these requests from insurance carriers," said Insurance Commissioner Barbara Richardson. "This is also an opportunity for consumers to submit their comments to the Division during this rate review process."

Based on the rate submissions the Division has received for 2018 plans, there will be four insurance companies offering plans on the Exchange with a total of 24 individual health plans to choose from between Clark, Washoe and Nye counties. The average proposed rate change for the individual market on Exchange is an increase of 38 percent.

"The proposed rate increases on the rate submissions filed with the Division reflect the uncertainty of the health care market. The Division will diligently review the proposed rates before they are approved," Commissioner Richardson added.

The deadline for insurance carriers offering plans off-Exchange is July 17; the Division will be posting this proposed rate information on its website by July 25.

Additional information on proposed rate changes can be accessed by visiting the Division's website at http://doi.nv.gov/rate-filings.