Feds approve Nevada public option health insurance plans

Public option health insurance plans, offered at lower costs than the plans available through the Silver State Health Insurance Exchange, will be available to Nevadans seeking coverage for 2026, Senate Majority Leader Nicole Cannizzaro announced Monday.

The federal government approved Nevada’s waiver to provide public option health plans, with premiums at least 15% lower than plans from the state exchange during the next five years.

“Starting next year, Nevada’s new public option plans will increase affordability in the individual health insurance market, bring record federal health care investments to the state, and increase the number of covered Nevadans,” Cannizzaro said in a news release. The senate majority leader sponsored legislation in 2021 allowing the state to pursue the federal waiver.

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The public option plans, known as Battle Born State Plans (BBSPs), will be available to individuals who purchase their own insurance. The new plans must be available at Nevada Health Link no later than Jan. 1, 2026. . .

The BBSPs, according to the Department of Health and Human Services’ website, must, “mirror other health plans sold on Nevada Health Link,” with the same benefits and cost-sharing requirements. Unlike existing plans, they must satisfy premium reduction targets.

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iamwhatiseem said:

Having trouble finding any details on the insurance itself, other than premiums are lower.
What are the deductibles? What is the copay %

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As required under 45 CFR 155.1308(f)(3)(iv)(B), a state’s proposed 1332 waiver must provide coverage and cost-sharing protections against excessive out-of-pocket spending that are at least as affordable under Title I of the ACA. . .

Cost-sharing is not expected to be different under the waiver, for either BBSPs or standard qualified health plans (QHPs), than it is without the waiver. Since cost-sharing is based on an actuarial value (i.e., a percentage of plan costs) which is tied to the metal level, aggregate out-of-pocket costs for enrollees will generally decrease if they enroll in a plan with the same or higher metal level.

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