Anthem Statement on Individual Market Participation in Nevada
After significant dialogue with state leaders and regulators Anthem Blue Cross Blue Shield has made the difficult decision to revise our rate filing for our 2018 Individual plan offerings in Nevada.
While we are pleased that some steps have been taken to address the long term challenges all health plans serving the Individual market are facing, the Individual market remains volatile. A stable insurance market is dependent on products that create value for consumers through the broad spreading of risk and a known set of conditions upon which rates can be developed. Today, planning and pricing for ACA-compliant health plans has become increasingly difficult due to a shrinking and deteriorating individual market, as well as continual changes and uncertainty in federal operations, rules and guidance, including cost sharing reduction subsidies and the restoration of taxes on fully insured coverage.
Specifically, Anthem will reduce its 2018 Individual plan offering in Nevada and will only offer an off-exchange catastrophic medical plan statewide. It’s important to note, this decision does not affect those who have employer based insurance or individuals enrolled in Medicaid, Medicare or “grandfathered” plans (plans purchased before March 2010).
Our commitment to members has always been to provide greater access to affordable, quality healthcare, and we will continue to advocate solutions that will stabilize the market and allow us to return to a more robust presence in Nevada in the future.