Options for Purchasing Health Insurance in Nevada

Nevada is one of the states that runs its own Affordable Care Act exchange. This means that they don’t use the Federal marketplace. Instead, Nevada uses its own state’s marketplace for residents to choose a health insurance plan. 

Medicaid/CHIP

Medicaid is a Federal program that helps families with low income receive health care coverage. In order to qualify for Medicaid, they will have to look at your income and assets. You can sign up for Medicaid at any time because there’s no closing enrollment. 

Nevada also offers CHIP (Children’s Health Insurance Program) and in this state, it is called Nevada CheckUP. This program is provided to children from low-income families. Although you may qualify for Nevada Check Up, families will still need to pay a quarterly premium based on the family’s income.

The Obamacare “ACA” Exchange 

The Obamacare Program The Obamacare Program or also known as the Affordable Care Act was passed in 2010. This law made health insurance more available and affordable for individuals and families to purchase health insurance. 8 out of 10 families will qualify for discounts and subsidies on the ACA marketplace. Contact one of our advisors to see what you qualify for.

Off Market Plans

Off-market plans are best suited for healthy people who do not qualify for a tax credit (also called a subsidy) through the ACA Marketplace. These plans have some special considerations to be aware of. Contact one of our licensed Advisors to help you compare all the major carriers in your area and figure out which plan is best for you. 

Nevada Health Insurance Carriers

There are five major health insurance providers in Nevada – Health Plan of Nevada, Friday Health Plans, Silver Summit Health Plan, Anthem Blue Cross Blue Shield, and Select Health. These health insurance carriers provide assistance with Premium Tax Credit which an individual or a family can qualify for based on their income. Compass Insurance Advisors has licensed representatives with each of these carriers. If you need assistance or have any questions about your plans, please reach out to us at 801-901-3519. We can help you update your address, request new cards, and answer any questions about claims and benefits. Our agents can help simplify any of your ongoing health insurance needs. 

Health Plan of Nevada

Health Plan of Nevada provides on and off-exchange individual plans as well as Medicaid. Something unique about their insurance service is that they offer a program called Integrated Health, which manages the medical conditions and behavioral health of the client. This gives clients’ access to strategical, individual health plans.

Friday Health Plans 

Friday Health Plans partners with hometown health PPO networks so they offer a wide array of physicians, OBGYN, urgent care clinics, and pediatricians. 

Silver Summit Health Plan

Silver Summit Health Plan is the leading provider for Medicaid in the country. They are locally branded in each state and are typically smaller and local.

Anthem Blue Cross Blue Shield

Anthem Blue Cross Blue Shield is one the biggest providers of health benefits in the United States. They offer a variety of PPOs, HMOs and many other plan services. Members can choose from basic plans to plans that meet all of their needs. 

Select Health

Select Health is one of the biggest health insurance providers in Utah and Arizona. They are well known for having one of the biggest market shares. Select Health is also integrated with Intermountain Hospitals which makes their coverage plans very cost-effective.

How to Enroll 

1. Directly Through the Health Insurance Carrier

This is probably your least effective method as oftentimes you are having to do the groundwork in reaching out to each carrier yourself to obtain quotes, ask benefit questions, check Rx formularies, make sure your doctor is in-network, etc.

2. Federal Marketplace/Other Enrollment Platforms

When the ACA was passed, they created a central location that allows consumers to see every plan offered by each insurance company, which sounds nice but can easily be, and is often (even for licensed agents) information overload. The biggest problem is they aren’t clear or have even been incorrect with benefit details beyond deductibles, in-network Doctors, or rx formularies.

3. Utilizing an Agent/Producer/Advisor

This is your most effective method of shopping the market. Most Agents/Advisors (especially Compass Agents) sift through all the available plans every year to determine which ones are advantageous or if certain plans were designed to meet a particular niche than the rest. Agents make the process of enrolling in a health care plan simple and easy to understand. Agents will also be aware of each carrier’s network of doctors and hospitals or at the very least know how to research your desired doctor or hospital system among the many networks listed in each carrier’s search engines. Not all networks within an insurance company are created equal. For example, simply because a doctor or facility pulls up in a carrier’s search engine does not mean the plans offered in the marketplace are accepted by those doctors. Each carrier has a unique name for each network and it’s important to have this in mind as you may be disappointed and frustrated when finding out your plan doesn’t take your doctor in a time of need.

Working with a Compass Advisor is no extra cost to you. Insurance companies cannot raise your rate for working with an advisor, so you will pay the same price whether you try to figure things out on your own or work with an advisor. Furthermore, having an agent takes away the stress from figuring out all the right plans for you and your family. Our Compass Agents/Advisors do all the difficult processes available to you at no cost and the assurance of finding the right health care for you and your family.  Lastly, working with one of our Agents is being aware of alternative plans to the ACA. There are plenty of families who are healthy, do not qualify for the tax credit and do not want to pay the high premiums on the marketplace. For those people in this situation, the non-Obamacare plans are the perfect solution! If you were to shop using one of the first two methods listed above, you would likely not be aware of these alternative options. However, as long as you use a Compass Agent you will always be aware of your best options. Find a local Compass Advisor by going to insurewithcompass.com or calling (801) 901-3519.