Nevadans face proposed 38% increase on health insurance sold on state exchange

CARSON CITY — Nevadans who get medical insurance through the Silver State Health Insurance Exchange face an average increase of 38 percent under rates proposed for 2018.

The Nevada Division of Insurance, which regulates the industry, released the figure on Friday based on proposed plans that insurance carriers have submitted to the state.

Four insurance companies will be offering 24 individual health plans in Clark, Washoe and Nye counties on the exchange.

The state exchange, available through the federal Affordable Care Act, has the goal of providing low- and moderate-income Nevada residents with a tool to shop for health insurance plan.

“The proposed rate increases on the rate submissions filed with the division reflect the uncertainty of the health care market,” Insurance Commissioner Barbara Richardson said in a statement. “The division will diligently review the proposed rates before they are approved.”

Dollar amounts for the increased premium costs for 2018 weren’t available Friday. Those figures will be released in October.

The actual rate of increase varies greatly based on the carrier and plan. Health Plan of Nevada, for example, has a proposed average increase of 27.24 percent, ranging from 19.04 percent to 36.15 percent depending on the plan.

Anthem HMO, meanwhile, has an average increase of 62 percent, with a range from 56.2 percent to 100.6 percent.

The other two carriers for 2018, Aetna Health Inc. and SilverSummit Health Plan Inc., don’t have any increased rates because the companies will be new to the state exchange.

State officials are working to try to find coverage for 13 rural counties and Carson City, which don’t have any carriers willing to sell plans on the state exchange for 2018. That’s developed because one carrier pulled out of rural counties and another exited the state exchange altogether, citing market uncertainties.

Insurance plans sold outside the state exchange have a different deadline. Those insurance carriers have a deadline of July 17 to submit proposals for 2018. The division will post that rate information by July 25.

Contact Ben Botkin at bbotkin@reviewjournal.com or 775-461-0661. Follow @BenBotkin1 on Twitter.