98°F
weather icon Clear

Nevadans to see premium increases in 2016 health insurance rates

The Nevada Division of Insurance said Wednesday that it has approved 2016 health insurance rates for individual and small-group coverage.

For small businesses and their employees, premiums will rise an average of 5 percent, the division said.

Consumers who buy a plan through the state’s Nevada Health Link insurance exchange will see an average premium gain of 8.7 percent. Individual buyers off of the exchange will pay 9.6 percent more on average.

Four insurers — UnitedHealth Group, Anthem Blue Cross and Blue Shield, Prominence and Humana — will offer plans on the state exchange, which is the marketplace through which lower-income consumers can qualify for a federal premium tax credit.

For consumers who don’t qualify for a credit, the off-exchange market has 18 carriers.

Acting Nevada Insurance Commissioner Amy Parks said market competition has helped keep rate changes in the individual market below 10 percent for the last two years.

To see rate filings, visit doi.nv.gov/Rate-Filings/.

The insurance division will release approved premiums by plan on Oct. 2 so that Nevadans can shop for coverage during open enrollment beginning Nov. 1.

Contact Jennifer Robison at jrobison@reviewjournal.com. Find @_JRobison on Twitter.

Don't miss the big stories. Like us on Facebook.
THE LATEST
Lawsuit accuses Encore Boston Harbor of cheating gamblers

The suit by New York resident Richard Schuster says the Everett casino is paying out less for certain winning hands at blackjack and rounding down payouts from slot machines. It was filed Monday in Middlesex County Superior Court.

China’s growth reaches 26-year low amid US tariff war

China’s economic growth sank to its lowest level in at least 26 years in the quarter ending in June, adding to pressure on Chinese leaders as they fight a tariff war with Washington.