Nevada: *Preliminary* avg. 2020 #ACA rate changes: 1.0% increase

This Just In from the Nevada Insurance Dept...

Proposed rate change averages for health insurance are available to the public for review

Consumers who shop for health insurance in the individual market, can now view new rate information for Plan Year 2020 on the Nevada Division of Insurance website.

Based on the rate submissions the Division has received for 2020 plans, there are three insurance companies that submitted proposed rates for plans on the Silver State Health Insurance Exchange (Exchange): Health Plan of Nevada, SilverSummit, and HMO Colorado, with up to 26 individual health plans to choose from. The proposed average increase is 0.5% for those health insurance plans sold On-Exchange through Nevada Health Link.

For the Off-Exchange market, four insurance companies have submitted proposed rates: Health Plan of Nevada, Sierra Health & Life, Hometown Health Plan, and Hometown Health Providers, offering up to 27 individual health plans to choose from with an average proposed increase of 1.9%

“This is the second year in a row that the Division has received modest increase requests,” said Insurance Commissioner Barbara Richardson. “However, consumers should start thinking about shopping for health insurance early to be sure the coverage meets their individual and/or family needs. We also want to caution consumers that even though these rate increases may be lower, actual impacts on how much a consumer pays in premiums may vary from last year due to some federal changes in the subsidies.”

These rate submissions are from insurance companies who are interested in participating in the individual health insurance market. 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.

Approved rates will be posted on October 1, 2019.

The first link goes to the table below (reformatted to make it easier to fit here). The second goes to a database which, unfortunately, only provides the SERFF tracking numbers for the carrier filings...except that plugging those numbers into the SERFF database isn't bringing anything up yet. Fortunately, the summary table does at least provide the on+off exchange weighted average (+1.0% statewide), which at least gives the main number I'm seeking. I'll update this entry if I get ahold of the actual carrier enrollment numbers.