Nevada Obamacare Rates Expected to Rise Nearly 37 Percent

Nevada’s average Obamacare rate is expected to increase by nearly 37 percent next year.

Nevada is the latest state to finalize its rates for 2018, with some states seeing decreases in some plans and others seeing double-digit increases.

The average increase for rates sold on the exchange will be 36.8 percent above this year’s rate, the state said. However, the increase is slightly lower, 31.6 percent, when taking into account plans sold off the exchange on the individual market.

The individual market includes plans sold on and off the state’s Obamacare exchange. People who don’t get insurance through their job use the individual market.

Nevada’s insurance division did not disclose a reason for the price increases.

Insurers on the individual market throughout the country have raised prices because of a combination of factors, including a sicker-than-expected enrollee population and the federal government’s failure to guarantee payment of insurer subsidies for 2018.

Some states have signaled major rate hikes in 2018, such as Idaho with a 27 percent increase and Florida with a 45 percent increase. However, Minnesota announced Monday that final rates would range from a 3 percent increase to a 38 percent decrease.

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