Nevada, Colorado see double-digit requests to increase health insurance rates

The insurance departments in two states have recently warned consumers that insurance companies are requesting, on average, double-digit increases for health care plan premiums in the individual and small group markets. 

The Nevada Division of Insurance expects an average rate increase of 17.5% overall for its individual healthcare market with a total of 12 companies and 210 plans for consumers to choose from, according to a release. Of those, 157 will be available on the exchange. 

The companies include: 

• • CareSource Nevada
  • Community Care Health Plans of Nevada dba Anthem Blue Cross and Blue Shield
  • Health Plan of Nevada
  • HMO Nevada
  • Hometown Health Plan
  • Hometown Health Providers (Off-exchange only)
  • Imperial Insurance Companies (On-exchange only)
  • Molina Healthcare of Nevada (On-exchange only)
  • Rocky Mountain Hospital & Medical Service, Inc., dba Anthem Blue Cross
  • Select Health
  • Sierra Health & Life (Off-exchange only)
  • SilverSummit

The state’s small group market has proposed an average rate increase of 12.1% with a total of 10 companies and 276 off-exchange plans. 

Consumers shopping for their insurance on the individual health insurance market can view and provide comments on the proposed rate changes for Plan Year 2026. 

Details about individual company rate filings can be found here. 

“Transparency and consumer choice remain top priorities for the Division,” said Acting Insurance Commissioner Ned Gaines. “This preview gives Nevadans a valuable opportunity to assess upcoming options, including the new Battle Born State Plans, and make informed decisions about their health coverage ahead of the Open Enrollment period starting November 1st.”

The Nevada Health Authority has been granted a federal waiver that allows the state to offer individual health insurance plans, known as Battle Born State Plans, the release says. It is the first time the state has offered the plans, which will be available on NevadaHealthLink.com. 

“Like all plans on the Marketplace, they cover all ten essential health benefits, including hospitalization, doctor visits, emergency care, lab work, and prescription drugs,” the Nevada Health Authority said in the release. “The key difference: Battle Born State Plans must meet specific premium reduction targets, meaning more Nevadans may have access to affordable coverage, regardless of income.”

A new market-wide reinsurance program is also set to start in 2026 from federal savings through the Battle Born State Plans, according to the release. 

Open enrollment for 2026 starts Nov. 1, 2025 and will run through Jan. 15, 2026. 

Those wanting to submit comments on the proposed rate changes can do so here. Once on the site, select “search criteria” from the dropdown menu and search by company name, status, or insurance type, and then select a carrier to view rate filing details and input comments. 

Approved rates will be posted on the division’s website on Oct. 1. Questions about the rate changes can be directed to the Division of Insurance at (775) 687-0700 or toll-free at (800) 872-3234. Consumers can also contact the Division’s Life & Health Product Compliance team via email at [email protected].

The Colorado Division of Insurance (DOI) recently announced a statewide average premium increase for individual health coverage of 28% and a 38% increase for western portions of the state, according to a press release. 

According to the DOI, the reason for the increases is the passage of a federal tax bill that will cut health care and Congress’s decision to let tax credits expire on Dec. 31. It says the result will impact 321,000 Coloradans. 

The average statewide increases were 5.6% for 2025 plans, 9.7% for 2024 plans, 10.4% for 2023 plans, and 1.1% for 2022 plans, the DOI said.

Mannat Singh, executive director of the Colorado Consumer Health Initiative, told 9News that she feels insurance companies are taking advantage of the situation to maximize their profits.

The DOI told the news station that it will push back on any insurance increase that is not justified. 

According to 9News, the DOI’s release about the increases received dozens of responses from Colorado residents. 

Average premium increases of 13.6% have also been requested for the small group market, according to a separate press release. It also says that the definition of “small employer” for health insurance coverage purposes has shifted from an employer with 100 employees to an employer with one to 50 employees. 

The release notes that five insurance companies will provide 383 plans across the state. Those insurance companies include: 

• • Anthem’s Rocky Mountain Hospital & Medical Services
  • Kaiser Foundation of Colorado
  • Kaiser Permanente
  • United Healthcare Insurance Co.
  • United Healthcare of Colorado

The requested rate increase for small businesses will impact about 172,000 Coloradans, the release says. 

“The requested premium increases for plan year 2026 will put employers in the position of making difficult decisions on how to pay for health insurance for their employees,” said Colorado Insurance Commissioner Michael Conway, in the release. “Once again, this year it will be important for employers to shop for the best option available for their employees, as there may very well be more affordable options in the market. And we will continue to work to ensure that the rates we approve are appropriate and justified.”

Earlier this year, the National Federation of Independent Business (NFIB) released a report addressing rapidly rising health insurance. 

Participation in the small group market, where most small businesses purchase coverage, is in a “death spiral,” the report says. It says the number of participants has declined sharply in recent years, with a decrease of 7.4% from 2022 to 2023. 

“The market ended the year in 2023 with 8.5 million participants, compared to nearly 15 million in 2014,” the report says. “In addition, issuer participation has declined from an average of 13 in 2015 to only five in 2020 and continues to fall.” 

According to the report, the average cost of an individual health insurance plan has increased by 120% for firms with fewer than 50 employees, and average family premiums have increased by 129% in the last 20 years. 

Ninety-eight percent of small businesses report they are concerned about whether they’ll be able to afford health insurance in the next five years due to the pace of rising premiums and shrinking coverage choices, the report says. 

Recognizing that insurance continues to climb, and the challenge that exists for the small businesses throughout its membership, the Society of Collision Repair Specialists (SCRS) has been developing programs specific to the collision repair industry and businesses within it.  

Plans focus on reduced costs for employers and employees, but with more competitive qualities, such as larger lists of no-cost services that might otherwise incur added expenses as people meet their deductibles in more traditional plans. This means employees can use coverage as soon as they enroll, rather than having high out-of-pocket expenses before coverage is available.

SCRS continues to work with financial technology firm, Decisely, to expand on the program and the benefits offered. Options are available to employers with as few as two employees.

Benefits of one example product offered in the association program include:

• • $0 deductibles and employees choose their out-of-pocket maximum, which ranges from $3,000-$7,000;
  • No-cost services for visiting primary care physicians, specialists, urgent care, labs, or having X-rays;
  • Free generic prescriptions and mental health services; and
  • Aetna and Cigna networks.

Details about the plans that are offered can be found in the SCRS benefits center.

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