Two small-group PPO plans sold with unapproved rates, state says
The state Division of Insurance said Monday that two small-group PPO plans offered in Nevada by Sierra Health and Life were sold with rates that the agency did not approve.
The division said at least 60 Nevada employers are affected.
The plans were sold under the names SHL Solutions PPO Silver 35/3000/70% and SHL Solutions PPO Silver 35/4500/70%. The plans were sold at unapproved rates in all counties except for Clark and Nye.
For consumer protection, state and federal laws require that all rates in Nevada be reviewed and approved by the Division of Insurance. It’s illegal to sell an insurance plan at an unapproved rate.
Sierra Health and Life will contact businesses enrolled in the plans and notify them of the approved rates. The insurer will also require payment of the difference between the approved premium and previously invoiced or paid premiums.
Businesses can cancel their coverage, request a premium refund and enroll in a new or previous plan, or they can pay the difference in rates and keep their Sierra Health and Life policy.
Contact Jennifer Robison at jrobison@reviewjournal.com. Find on Twitter: @J_Robison1.
