A doctor’s visit may get more expensive next year and, like the cost of gas, food, and other essentials, inflation is to blame for the hike in price.
According to experts, inflation is expected to increase premiums and out-of-pocket costs for people next year. It’s because employees might have to pay more for health insurance coverage starting in 2023.
With insurance premiums set in advance, rates from 2022 didn’t include all of the inflation data that is available now. While costs of some insurance plans on the exchange will increase, subsidies have also increased, meaning the net cost may not go up as much as you think. The Silver State Health Insurance Exchange says they have seen the need increase in Nevada–up to 24 percent in enrollment from the last year.
In Nevada, the average price increase for monthly premiums is about 9.2%, according to Nevada health link. With most open enrollment periods taking place this month and next, the Silver State Health Insurance Exchange Executive Director Ryan High says this is the time to take a closer look at your options.
Hospitals, doctors, and other providers are also feeling the pressure as they struggle with labor and supply costs. High explains that shopping on the exchange allows customers to receive federal financial assistance with their monthly premiums while shopping for health insurance.
To learn more about Nevada Health Link, click here.