Nevada's insurance exchange received preliminary approval from the federal government this month.
Enrollment will begin in October, with policies taking effect Jan. 1.
Officials estimate 118,000 people will sign up for insurance using the exchange, and project enrollment will grow.
Scott Kipper, Nevada's insurance commissioner, questioned what will happen if the fees don't generate enough to operate the exchange.
"What would be done to get the exchange whole in that event?" he asked.
Hager said the exchange could ask to borrow money from the state general fund; it could "beg, plea" to the Legislature and governor's office; or it could adjust rates.
But, he said, "I think we have enough buffer in these rates to make sure that doesn't happen."
One insurance industry representative asked whether carriers would be required to pay insurance premium taxes on the fees. Carriers pay taxes on the dollar amount of policies written in the state.
Hager said the fees under existing law would be included for tax calculations, but added the exchange has submitted a bill draft request for the upcoming Legislature to exempt them from insurance premium taxes.