Shopping for individual health insurance has changed a lot in 2018.
I wanted to make you aware of some of the changes for 2018 individuals as well as small business health plans.
Today the same rules will apply as applied for the past 3 years. Pre-existing conditions are covered for no additional rate up. Essential health benefits are still part of the plans as well. Dependents up to age 26 and preventative services are still at no cost.
Health insurance Nevada companies are making major changes for 2018. In Nevada, Prominence Health Plans is no longer selling individual plans on Healthcare.gov beginning 1/1/18. This means anyone with a current individual Prominence health plan needs to contact us right away to change.
For people who live outside of Reno and Las Vegas… no healthcare.gov health insurance plans will be offered in these areas. Specifically, anyone living outside of Washoe, Clark and Nye counties will not have a Healthcare.gov option in 2018. This will be true if everything stays as it is. As of today, there is not one insurance company offering individual medical insurance plans on healthcare.gov in 14 of the 17 counties in Nevada for 2018.
To be clear, there ARE other options for these counties.
In some areas, including the Carson City area, they offer individual and small business health insurance plans not involved with Healthcare.gov.
Because of the limited availability of individual plans, we’ve seen a lot of companies begin to offer small business health plans. This is the route to go for clients who are receiving a subsidy from the government. Even for clients who ARE receiving a subsidy, sometimes the small business health plans are still the best way to go. This would usually include having a larger doctors list. It also includes not being able to estimate their income accurately for a subsidy or wanting the pre-tax benefit and wanting an insurance company that doesn’t sell individual plans.
Earlier this month the insurance commissioner released a notice stating the proposed rate change for an individual – healthcare.gov plans is 38%. This year our average rate increase for small businesses is around 12%.
Small business Reno health insurance plans are offered in every county in Nevada and since there are more insurance companies competing, prices are usually lower and the benefits are better.
We’re seeing a lot of changes happen in the individual health insurance market this year. The best thing to do is to contact us. We can find out what changes are affecting you and what your options are.
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