Nevada: DOI confirms my 15% indy market estimate; 4% requested for small group market
2018 MIDTERM ELECTION
Time: D H M S
Just a quickie here: Last month I cobbled together the 2017 requested rate filings for the individual market in Nevada and calculated that the weighted average hike request was around 15.0% even. According to an local news article from Saturday, I was dead on target...and they also helpfully noted that the average request for the small group market for next year is just 4%:
LAS VEGAS (AP) — Health insurance costs for about 240,000 Nevadans who buy individual or small-group plans are expected to rise next year, and state officials want consumers to offer feedback before the proposed rates are locked in in coming weeks.
The average cost of an individual plan will go up 15 percent in 2017, while the average cost of a small-group plan will rise 4 percent, the Nevada Division of Insurance said. The agency recently launched a $49,000 Facebook and web ad campaign inviting consumers to browse the rates insurers are proposing for the nearly 600 plans available on the marketplace and comment on whether they're appropriate.
According to my data, the ACA-compliant NV individual market is around 133,000 people, so the ACA-compliant small group market appears to be roughly 107,000.