Vermont's health insurance premiums will rise, hospitals seek 'recovery budgets'
Vermont Public
Insurance rates are set to spike next year after the Green Mountain Care Board this week approved rate increases for the state’s largest insurance companies.
And the insurance rate increases come as the board is about to begin considering next year’s hospital budgets, which could send insurance rates soaring even more if the board gives the hospitals what they are asking for.
Health insurance premiums for Blue Cross Blue Shield of Vermont will rise about $89 for small groups, and a little more than $105 for individuals in 2024.
Customers on the MVP Health Plan will see increases of about $78 for small groups and $90 for individuals.
Both companies were asking for even more, citing increases in hospital and prescription drug costs.