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Nevada OKs 31.6% average rate hike for individual health plans

Seven health insurance companies will sell individual plans on and off the exchange in Nevada in 2018, the state's insurance regulator announced.

The Nevada Division of Insurance said the approved average rate change is 31.6%

On the individual exchange market, two insurance companies will offer plans: Health Plan of Nevada Inc. and SilverSummit Health Plan. The average approved rate increase for Health Plan of Nevada is 36.8%. SilverSummit Health Plan is a new entrant.

Open enrollment will begin Nov. 1 and end on Dec. 15.