
Health insurance premiums could increase an average of $70 or more a month for more than 70,000 Vermonters.
Health insurance premiums could increase an average of $70 or more a month for more than 70,000 Vermonters.
Supporters say the law will benefit Vermont hospitals and independent pharmacies, but others warn that H.353 will significantly raise prescription drug costs in Vermont.
BlueCross BlueShield of Vermont has asked the Green Mountain Care Board for a 12.5% increase in 2023. MVP Health Care asked for 16.6%.
“There’s good news and bad news,” said Kevin Mullin, chair of the Green Mountain Care Board. “Some people will see a reduction in insurance costs. We'd like everyone to see lower costs.”
Blue Cross Blue Shield of Vermont, which administers health care plans for state employees, will include state workers in OneCare. Officials say the move will help bolster the state’s all-payer system, which has fallen behind on its scale targets.
Blue Cross Blue Shield of Vermont lost $40 million of its pension funds this spring. It’s part of a group of 16 BCBS companies suing Allianz Global Investors to recover the money.
The Green Mountain Care Board approved a 2.7% increase for MVP Healthcare and a 4.2% increase for Blue Cross Blue Shield Vermont.
We consistently invest in making our health care system in Vermont more sustainable and innovative so that we can drive down rates to the best of our abilities.
Blue Cross Blue Shield of Vermont and MVP Health Care are asking for 5.5% and 6% rate increases, a move that attracted 900 written comments.
MVP and BlueCross BlueShield took different approaches in weighing the cost of care from the pandemic.
Insurance companies have thus far stood to gain during the pandemic. But that may change.
Experts say if the rest of the country is any indication, probably yes.
Do we really need these insurance companies to do what we could easily do ourselves if we possessed the moral courage and the political will to do it?
The Green Mountain Care Board reduced rate increases proposed by insurers but say they’re still 'not affordable.'