In 2020, Nevada will be a State-Based Health Insurance Exchange
Technically, state-based health insurance plans don’t exist; in most cases, when someone is talking about state-based health insurance, they’re referring to a health insurance plan that is regulated by the department of health insurance in that state. These plans are sold through state health insurance exchanges. Or you may enroll directly with the health insurance carriers without getting a government subsidy with the help of brokers and agents.
State-Based Health Insurance Exchanges and the Affordable Care Act
In 2010, when the Affordable Care Act was signed into law, states were given the option of choosing whether they wanted to establish their own state-based health insurance exchanges or whether residents would instead obtain health insurance through the federally run platform, known as HealthCare.gov.
Some states already had their own exchanges and decided to simply continue making health insurance accessible to residents that way. Other states decided to create their own exchanges, while still others switched from their own exchange to the federal exchange.
State-based health insurance exchanges come with a lot of benefits to residents. For example, in some states, insurers have to meet coverage and rate requirements for their plans to be sold on the state exchange, ensuring that residents have access to better coverage. In some cases, states may even give priority to health insurance companies that offer benefits that align with the overall health needs of the state.
Is the State-Based Exchange the Only Option for Buying Health Insurance?
No, It's Not!
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While the state-based exchange may be the most logical place to buy health insurance, it definitely isn’t your only option. Some Nevadans prefer to purchase health insurance directly from the insurance company. Buying from a private broker like Nevada Insurance Exchange is also a great option that allows you to see dozens of plans from several different companies. You can also see major medical plans that aren’t sold on the state exchange.
Changes for Nevadans in 2020
If you lived in Nevada a few years ago, then you probably remember when Nevada had its own exchange website. However, thanks to technical difficulties that could never be ironed out, the state switched to HealthCare.gov and used that platform from 2015 to 2019. In 2020, Nevada will go back to running the whole system itself, offering its own enrollment platform called Nevada Health Link.
Shopping With Nevada Insurance Enrollment
If you’ll be shopping for health insurance for 2020, talking to a health insurance agent at Nevada Insurance Enrollment can help you be confident that you’re weighing all of your health insurance options and signing up for a plan that fits your needs and budget. Reach out to us today to learn what the next step is in making sure that you’re covered in 2020.