
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.
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%.
With a volatile labor market and rising inflation, Vermont businesses say they cannot afford to pay more for health care.
A report issued Tuesday by the Vermont Department of Financial Regulation said BlueCross BlueShield of Vermont and Cigna must provide relief to some policyholders.
“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.”
The commercial takeover of health insurance has reduced American health care to a maddening money pit.
An expected double-digit increase in health care costs will put more pressure on an already stressed system.
There is nothing more compelling than real Vermonters telling their stories about what these proposed rates would mean for families and small businesses.
One idea is to use 'age rating' to lower premiums for young people while allowing insurers to charge older customers more. Officials also are considering a new insurance products with lower fees paid to health care providers.
A new Health Department survey says the state's uninsured rate is 3.2 percent. But the survey found increasing numbers of 'underinsured' Vermonters with insufficient coverage for their medical needs.
It seemed as though these proceedings were very far down the line of acceptance by the board – to the point of going through the motions for the sake of formality.