Nevada Health Insurance
Nevada has fewer health insurance regulations than most states. Still, it's important to familiarize yourself with them, so you're more confident and wise in your health insurance purchase.
This guide:
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Describes important Nevada health insurance policy regulations
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Lists rules Nevada health insurance companies must follow
Health insurance policies are regulated by each state's own health insurance laws. Nevada health insurance companies and policyholders alike must abide by established insurance laws.
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Nevada health insurance policy provisions
Some of the most important Nevada health insurance laws are the ones that influence the health insurance policy itself.
For instance, a Nevada health insurance stipulation, known as the guaranteed renewability provision, states that no matter what the status of your health is, your health insurance is always renewable at the end of the term.
Nevada health insurance policies are allowed to include exclusion periods for pre-existing conditions. Medical conditions considered to be pre-existing are determined by your Nevada health insurance company, but they typically include illnesses you have obtained medical care for in the past.
Though health insurance exclusion periods can be permanent, most are only a few years or less. During an exclusion period, Nevada health insurance companies are not responsible for paying any medical costs relating to the pre-existing condition.
Also, if you choose to switch Nevada health insurance companies, there is neither a guarantee the pre-existing condition exclusion period will be waived, nor is there a limit to what exclusion period your new Nevada health insurance company is allowed to impose.
Regulating Nevada health insurance companies
Health insurance laws in some states strictly regulate the cost and availability of health insurance policies. Nevada health insurance laws are rather relaxed in this area, which, however, on how much your premiums can be raised.
Although your health insurance policy can be canceled for certain reasons such as false information or nonpayment of premiums, Nevada health insurance laws prohibit insurance companies from terminating your policy on the grounds of illness.
Temporary Nevada health insurance
Temporary Nevada health insurance is best obtained by buying a conversion policy.
In Nevada, health insurance companies must offer their former policyholders both a basic and a standard conversion policy. There are set benefits for each of these plans and the cost of the premiums are regulated.
An advantage of conversion plans is that you will not be required to meet a new pre-existing condition exclusion period, maintaining the medical treatments you have already been prescribed.
You are eligible for a conversion policy if you have left a fully insured group policy and are not able to be covered under another policy, such as your spouse's policy. You also qualify for a conversion health insurance policy if you have lost insurance through the death of a spouse or if you are no longer covered as a dependent.
Applications for conversion policies must be received no later than 31 days after the end of your previous Nevada health insurance policy.
More NV health insurance help
If you want more help getting a good health insurance policy, read our guide to health insurance.
Also see the guide to Nevada small business health insurance.
To find out more about NV health insurance laws and regulations, visit the website of the Nevada Department Of Insurance.
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