The Nevada Division of Insurance says there will be a lot more health plans to choose from next year.
The Division says there will be at least a 34 percent growth in the number of health plans offered in various sectors of the individual and small group market next year.
It says premium rate increases won’t be as high as in previous years.
Insurance Commissioner Scott Kipper says he’s pleased that most people will only see the price of their insurance premium go up between 4 and 8 percent.
“I think it’s all relative to each individual’s situation, but I think a 4-8 percent increase is in my mind, would be seen as modest,” he says.
Kipper says under different health insurance products before the Affordable Care Act, there had been double digit premium increases.
“As we’ve seen the marketplace evolve over the last 15-20 years, 4 to 8 percent is certainly much better,” he says.
Kipper says health insurance rates are only going up modestly next year because premiums were priced pretty accurately this year, and insurers now have more data to set rates for next year.
Kipper says Nevadans in rural areas may see higher health insurance increases than people in urban centers. Some people may see decreases in their health care premiums, so may see an increase of more than eight percent.
Open enrollment for people to sign up for health insurance starts November 15th.
CapRadio provides a trusted source of news because of you. As a nonprofit organization, donations from people like you sustain the journalism that allows us to discover stories that are important to our audience. If you believe in what we do and support our mission, please donate today.