Possible rates increase for Vt. health care exchange - WCAX.COM Local Vermont News, Weather and Sports-

Possible rates increase for Vt. health care exchange

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Signing up for Vermont Health Connect had its fair share of problems. And now paying for it could be the next one. Vermont's largest health insurance provider, Blue Cross Blue Shield of Vermont filed next year's proposed rate premiums Monday. And they're slated to go up.

Blue Cross Blue Shield asked the Green Mountain Care Board to approve a 9.8% rate increase for 2015. The company insures more than 200,000 Vermonters -- but only the roughly 58,000 who are insured through Vermont Health Connect will be affected. Blue Cross Blue Shield says the majority of the increase is due to factors outside of its control.

Kevin Goddard of BCBS said, "Within this filing remember there are some things that are specific to the Affordable Care Act that really have the effect of adding on to what would normally be a rate increase in the low single-digits."

These include a decrease in federal subsidies -- which accounts for two-thirds of the hike -- and an added insurer fee placed on providers from the Affordable Care Act.

The Green Mountain Care Board will be looking over the submitted numbers from both Blue Cross Blue shield and the other carrier participating in Health Connect -- MVP Health Care -- within the next couple days. They will then 90 days to make to approve or deny the rate increase.

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