Nevada Division of Insurance offers tips for purchasing a health benefit policy
Submitted by editor on Wed, 12/06/2017 - 1:00pm
CARSON CITY — The Open Enrollment period was cut in half this year, but there is still enough time for consumers to purchase and enroll in a health benefit plan, which meets all the Affordable Care Act requirements, to avoid having a gap in coverage next year.
There is good news for consumers who are subsidy eligible as some qualified health plans may be much cheaper than the penalty for not having health insurance. As always, the Division encourages consumers to do some research to determine the best plan for themselves and their family members.
To find out if you qualify for a subsidy visit Nevada Health Link at https://www.nevadahealthlink.com
Consumers also need to be aware there are still various health insurance companies offering health insurance plans on and off the Exchange for 2018. It is important to know what kind of policy you are buying to make sure it complies with the Affordable Care Act (ACA) and avoid penalties.
Policies such as short-term plans are legal in Nevada, but they are not compliant with the ACA as they are intended to ’fill in gaps’ by only offering temporary coverage with limited benefits and preexisting conditions are typically excluded from coverage. Having such a policy may result in paying a penalty unless you also purchase a qualified health plan.
“There are many websites out there trying to lure consumers into purchasing a short-term plan while disguising them as ACA compliant policies,” said Insurance Commissioner Barbara Richardson. “While it is up to the consumer to decide if they would like to purchase such policies, they just need to understand what they are purchasing.”
To dispel any rumors and to learn about what’s new in health insurance and what options are available, consumers are encouraged to visit the Division’s NV Insurance 101 website at http://insurance101.nv.gov/. Consumers can also visit the Division’s Rate Wizard Tool at healthrates.doi.nv.gov to see actual rates and plan information being offered on and off the Exchange. Before you sign a contract verify that the insurance agent, agency or company are licensed. To verify a license, consumers may visit the Division’s “Verify a License” tool.
Open Enrollment ends Dec. 15, 2017.
About the Nevada Division of Insurance
The State of Nevada Division of Insurance, a Division of the Nevada Department of Business and Industry, protects the rights of Nevada consumers and regulates Nevada’s $14 billion insurance industry.
The Division of Insurance has offices in Carson City and Las Vegas. In 2016, the Division investigated more than 3,200 consumer complaints and recovered nearly $5 million on behalf of consumers. For more information about the Division of Insurance, visit DOI.NV.GOV or download the Division’s smartphone app NDOI Connect today in the Apple App Store and Google Play.
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