Vermont regulators trim health insurance premium increases
Valley News
The two insurance companies that offer health care plans through Vermont Health Connect to individuals and small employers will be able to increase premiums by double digits in 2024.
However, regulators significantly cut back the rates that insurers had requested, based largely on the expectation of regulatory cuts in 2024 hospital budgets, for which hearings begin this week.
The Green Mountain Care Board, which oversees changes in the cost of and benefits provided by plans sold on the state’s health insurance marketplace, set premium rate increases for Blue Cross Blue Shield of Vermont and MVP Health Care in decisions released late Monday. Despite the scaling back, the increases will be among the highest annually since the first full year of the state marketplace in 2014.