The Nevada Division of Insurance has announced health insurance premium rates through the state exchange will increase just 1.9 percent for the 2019 year.
“This is the lowest proposed rate increase the division has received since the beginning of the Affordable Care Act,” said Insurance Commissioner Barbara Richardson.
Based on submissions the division has received, there will be two insurance companies offering plans on the Silver State Health Insurance Exchange with up to 15 individual health plans to choose from.
Gov. Brian Sandoval said he was pleased with the proposed rates, which he described as “great news for Nevadans.”
He said the proposed rates reflect the hard work done to stabilize the health insurance market in Nevada.
For the off-exchange market, insurance officials said there will be four insurance companies offering 41 different health plans for individuals. Those will see rates rise by 3.1 percent on average.
A summary of the proposed rates can be found on the division website at http://doi.nv.gov/rate-filings.
The approved rates will be posted Oct. 2.