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Member, Beacon International Group, Ltd.
Current and retired state employees in Nevada will face health insurance rate hikes of 8% to 25% effective July 1 due to rising health care and pharmacy costs, the Nevada Independent reports. The Public Employees’ Benefits Program Board approved the increases, which will result in monthly premium increases of $8 to $53. To soften the blow, the board will dip into the agency’s catastrophic reserve fund to subsidize the amount employees and retirees pay, using approximately $7.3 million.