Green Mountain Care Board approves double-digit increase in health insurance premiums for third year in a row
VTDigger
For the third year in a row, the Green Mountain Care Board has approved double-digit increases in the cost of annual premiums for individual Vermonters and small organizations who purchase their health insurance plans on Vermont Health Connect.
The approved premium increases will affect both individual and small group plans available on the state-run Affordable Care Act marketplace in 2025, affecting approximately 70,000 people.
The state’s health care regulator will allow Blue Cross and Blue Shield of Vermont to increase individual premiums by 19.8% and small group premiums by 22.8% over this year’s rates, according to a Green Mountain Care Board press release. MVP Health Care, the only other insurer to offer plans on the marketplace, will be allowed to raise its individual premiums by 14.2% for individuals and 11.1% for small groups over 2024 rates.
Double-digit increases in premiums were also approved in these markets for 2023 and 2024.