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Nevada unveils proposed rate change averages for health insurance

The Nevada Division of Insurance has revealed the proposed rate change averages for health insurance.

Health Plan of Nevada Inc., SilverSummit and HMO Colorado Inc. submitted proposed rates for plans on the Silver State Health Insurance Exchange, which is the state agency that operates the online health insurance marketplace Nevada Health Link. The average proposed increase is 0.5% for health insurance plans sold on-exchange through Nevada Health Link. The insurers offer up to 26 individual health plans.

For the off-exchange market, Health Plan of Nevada, Sierra Health & Life Insurance Co. Inc., Hometown Health Plan Inc. and Hometown Health Providers Insurance Co. Inc. submitted proposed rates with an average proposed increase of 1.9%. The insurers offer up to 27 individual health plans.

The Nevada Division of Insurance is in the process of reviewing the requests. The approved rates will be revealed Oct. 1.