Vermont’s ACA insurers, Blue Cross and Blue Shield of Vermont and MVP Health Care, requested lower premium increases for individual and small group plans in 2027, according to May filings.
BCBS Vermont said its average requested increases were the lowest in five years: 3.1% for small group and 5.2% for individual qualified health plans.
“We are committed to working with leaders across the state to bring costs down further,” BCBS Vermont President and CEO Beth Roberts said in a May 12 news release. “We are working directly with hospitals on contracting, finding healthcare cost savings internally, and we have opportunities with proposed legislation on reference-based pricing that has the potential to lower costs for all Vermonters if implemented broadly.”
MVP proposed average rate hikes of 9.1% for small groups and 7.8% for individuals.
Vermont Public reported May 13 the chair of the state’s healthcare regulatory agency, Green Mountain Care Board, described the requests as “more reasonable” than in other years.
BCBS Vermont added that, if approved, its new product line, Vermont Basic, will hit the market in 2027, offering more affordable HSA-compatible plans. MVP also proposed a wellness benefit and an acupuncture allowance under its non-standard plans.
A decision will be made on the rates Aug. 10.
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