Green Mountain Care Board approves insurance premium rate hikes

Green Mountain Care Board raises premium
Published: Aug. 4, 2022 at 10:35 PM EDT
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MONTPELIER, Vt. (WCAX) - Health insurance premiums for tens of thousands of Vermonters are going to get significantly higher next year.

On Thursday, the Green Mountain Care Board approved double-digit rate hikes for Blue Cross Blue Shield and MVP Health carriers.

Under BCBS, the board approved an 11.7% rate hike for small businesses and an 11.4% increase for individual and family coverage.

Under MVP, an 18.3% hike for small group plans and 19.3% for individual and family plans.

The board says the higher cost is driven by inflation, workforce challenges, and specialty pharmaceuticals. While the rate changes are lower than the original requests, the Healthcare is a Human Right campaign is slamming the board’s decision.

Leaders wrote in a statement:

“Today’s decision highlights the real-world impacts of the denial of healthcare by Vermont’s public officials, who hold the responsibility for driving thousands of the state’s residents into medical debt and economic precariousness.”

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