Vermont Business Magazine On Friday, May 8, the Green Mountain Care Board (GMCB) received and began its review of the proposed 2021 health insurance rates for plans offered to individuals, families and small businesses through Vermont Health Connect. Blue Cross Blue Shield of Vermont (BCBSVT) is requesting an average annual rate increase of 6.3 percent over 2020 rates, while MVP Health Care is requesting a 7.3 percent average annual rate increase.
The rate filings will be posted online at ratereview.vermont.gov/ on Monday, May 11.
The Board will hold hearings on the proposed rates on July 20th (BCBSVT) and 21st (MVP) beginning at 8 am.
At the hearings, the Board will take testimony from its contract actuaries, from the insurers, from the Office of the Health Care Advocate, and from the Department of Financial Regulation. Given the current health crisis and Vermont’s state of emergency, it is not known at this time whether the Board hearings will be conducted in person or done remotely.
The Board encourages the public to attend the hearings, either in person or remotely, depending on the circumstances, and will take public comment at the close of each day’s testimony. Additionally, the Board has scheduled an evening public comment forum for July 21st at 4:30 p.m.; whether this forum will be conducted in person or done remotely has not been decided at this time.
Please refer to the rate review website for updated information regarding the location of the hearings and public comment forum. The Board is accepting public comment on an ongoing basis beginning Monday, May 11th and running through July 23rd, 2020.
Comments may be submitted electronically through the rate review website, by email to [email protected], by US Mail to the GMCB at 144 State Street, Montpelier, Vermont 05602, or by phone at (802) 828-2177.
The Board expects to issue decisions on the proposed rates by August 6th, 2020.
Source: GMCB 5.9.2020