Current News

Vermont Business Magazine The Senate Health, Education, Labor, and Pensions (HELP) Committee, chaired by Sen. Bernie Sanders (I-Vt.), will hold a hearing Thursday, January 18 at 10:00 a.m. ET titled, “Addressing Long COVID: Advancing Research and Improving Patient Care." Today, millions of Americans live with long COVID and its many symptoms. These include fatigue, cognitive impairment (commonly referred to as  brain fog), muscle or joint pain, shortness of breath, heart palpitations, sleep difficulties, mood changes, and more. With millions of Americans suffering each and every day, more must be done to address this crisis.

Vermont Business Magazine Senator Peter Welch (D-Vt.), Senator Mike Braun (R-Ind.), and Senator Amy Klobuchar (D-Minn.) last week introduced bipartisan, bicameral legislation to streamline drug patent litigation, encourage fair market competition, and lower prescription drug prices by making it easier for generic and biosimilar companies to enter the market. Rep. Jodey Arrington (TX-19) introduced companion legislation in the House. 

Vermont Business Magazine Vermont’s five Area Agencies on Aging (AAAs) announce their new affiliation, called the Vermont Aging Network Consortium (VANC). Boards of directors from each of the AAAs have approved the affiliation. This new consortium will positively impact the overall cost of health care by leveraging economies of scale, combining resources, and reducing duplication within the community-provider network of home- and community-based services. A focus on establishing future contracts with payers and healthcare systems is expected to further enhance financial sustainability for aging services as they evolve.

by Timothy McQuiston, Vermont Business Magazine COVID-19 cases and hospitalizations continue to rise, as they have since late summer. Hospitalizations are now higher than they've been at any time since November 2022. However, fatalities have not seen a related spike. There were 6 deaths reported by the Vermont Department of Health last week and 5 the week before, for a pandemic total now of 1,094 as of January 6, 2024. The VDH reported January 10, 2024, that COVID-19 hospitalizations were up 3 last week to a statewide total of 59. COVID-19 activity remains in the "Low" range, according to the VDH. Reported cases last week were 455, up 38 for the week. VDH reported 15 COVID-related deaths in December 2023 and 5 so far in January 2024

by State Representative Brian Cina Monday marked the birth of the Reverend Dr. Martin Luther King, Jr., famed civil rights activist and the conscience of our nation during a pivotal era in the struggle for human rights in United States history. Dr. King stated that “of all the forms of inequality, injustice in health is the most shocking and the most inhuman because it often results in physical death.” Affordability remains one of the greatest barriers for access to health care. An estimated 44% of Vermonters under the age of 65 are underinsured and cannot afford the cost-sharing required to access health insurance benefits for which they pay massive premiums, which increased 7.5% to 14.4% from 2023 to 2024, depending on the private insurance plan. 

by Vermont Treasurer Mike Pieciak and Connecticut Treasurer Erick Russell Government exists to solve problems, and as State Treasurers, our offices are committed to supporting economic well-being for all. Despite the opportunities in our states, we know our economies do not work for everyone. According to 2019 American Community Survey data from the U.S. Census Bureau, the top 20% of Vermont households had an average income of $200,816, while the bottom 20% averaged $15,054. These disparities are even more stark in Connecticut, one of the wealthiest states in the nation that also features one of the most significant wealth gaps. Currently in the United States, the top 10% of households hold about 69% of the nation’s wealth, while the bottom 50% own only about 2.5%.  

Vermont Business Magazine State Auditor Doug Hoffer released a new audit report today of Burlington’s Downtown Tax Increment Financing (TIF) district. TIF districts allow municipalities to designate an area for public infrastructure improvements, incur debt to pay for the work, and use a portion of the area’s property tax revenue growth, which would normally go to the Education Fund and the municipality, to pay back the debt. Since 2017, Burlington has spent nearly $8 million of bond proceeds on improvement projects and more than $4 million of tax increment for debt payments and related costs. Burlington Mayor Miro Weinberger recognized that the audit provided helpful feedback which has led to improvements, but he rejected the conclusion of the city's "missteps" in how the city financed the bond payments and that the city exceeded its regulatory funding cap.

Vermont Business Magazine Today, Mayor Miro Weinberger responded to the report of State Auditor Doug Hoffer on the recent audit of the City of Burlington’s Downtown Tax Increment Financing District (Downtown TIF). While acknowledging that improvements to city's original TIF plan were needed, and accomplished, the mayor rejected the assertion by Hoffer that the city exceeded the approved funding cap, among other disagreements with the auditor's conclusions. Weinberger said that following a final review of the Auditor’s recommendations, the City will take action to correct some ledger errors uncovered in the audit which will have no impact on the City’s operations, nor will they trigger a need to increase tax rates. Weinberger added: "However, the City entirely rejects the Auditor’s headline finding that the City committed a “misstep” by securing $4.6 million of bond premiums and disagrees with the Auditor’s assertion that the City exceeded a regulatory cap."

by Devon Green, VP of Government Relations, VAHHS After making a big deal about S.151 being THE health care reform bill last week, S.211 and S.183 came out with major changes to government structures around health care. Such is the session—turns on a dime and keeps you on your toes. Medicaid expansion: The House Health Care Committee heard a walkthrough of H.721, which would expand access to Medicaid by raising Dr. Dynasaur eligibility to age 26 and increasing income eligibility for adults to 312% by 2030. Primary care, mental health, substance use disorder, and long-term care providers would be reimbursed at a rate no lower than 125%. The bill also expands financial eligibility for Medicare Savings Programs which subsidize Medicare costs for older Vermonters.  

by Mike Del Trecco, VAHHS CEO As you'll note from our legislative report, the 2024 session is already in full swing. As is traditional, the governor kicked it off with his State of the State address, which he delivered to a joint session of the Senate and House. At VAHHS, we listened closely to Governor Scott's priorities and plans for work in the upcoming months. We are eager to work with the administration and the legislature on actions we know are important to Vermont's health care.

Vermont Business Magazine Spectrum Youth and Family Services is excited to announce the expansion of the Mentoring program into Franklin County. This program intends to address a gap in access to other mentoring opportunities in the county. Since 2002, Spectrum Mentoring has operated in Chittenden County, connecting youth ages 12-22 with adult volunteers to support them in reaching goals and engaging in the community. 

Vermont Business Magazine The Vermont Pitch Challenge, an entrepreneurial-focused competition that gives high school sophomores, juniors, and seniors from across the world a chance to pitch business ideas for a chance to win a full tuition scholarship to the University of Vermont and cash prizes, was announced in September 2023. Participants in the free program have had the opportunity to learn from top experts about how to write a business plan, create a compelling pitch, and achieve their goals through monthly Entrepreneurial Exchange webinars that kicked off in September and will continue through March 2024. The application portal for students to submit their business ideas is now officially open on the UVM website and will remain open until February 15.