GMCB approves health insurance rates hikes of 11.7% for Blue Cross and 18.3% for MVP


Vermont Enterprise Journal The Inexperienced Mountain Care Board (GMCB) issued selections Thursday requiring Blue Cross Blue Defend of Vermont (BCBSVT) and MVP Well being Plan, Inc to decrease the premiums they wished to cost people and small companies for medical insurance plans in 2023. BCBSVT requested for a 15.4% improve and bought 11.7% within the small group (enterprise) plan; MVP requested for a 23.4% improve and bought 18.3%. The rise in charges for people had been comparable (see beneath). Regardless of the reductions, the charges are nonetheless the very best accepted since August 2019. 

Roughly 72,000 Vermonters had been enrolled in these plans as of March 2022.

The big fee will increase proposed by MVP and BCBSVT this yr had been pushed by a number of elements, together with rising prices for specialty prescription drugs and better prices paid to well being care suppliers for delivering providers, which in flip are being pushed by inflationary and workforce pressures being confronted by many sectors of the economic system.

After an intensive assessment, the Board, performing inside its statutory authority, and balancing various statutory elements, diminished BCBSVT’s and MVP’s proposed charges by the quantities mirrored within the following tables: 

Small Group – Common Annual Enhance Over 2022 Charges




Charge Request (PMPM)**

Board Authorized (PMPM)**




15.4% ($94 PMPM)

11.7%* ($71 PMPM)




23.4% ($135 PMPM)

18.3%* ($106 PMPM)





Particular person & Household – Common Annual Enhance Over 2022 Charges




Charge Request (PMPM)**

Board Authorized (PMPM)**




14.9% ($104 PMPM)

11.4%* ($79 PMPM)




24.4% ($164 PMPM)

19.3%* ($130 PMPM)



*These fee will increase symbolize averages throughout totally different profit plans with various ranges of price sharing. For small group, the plan-level will increase accepted vary from 9.1% to fifteen.3% for BCBSVT and 10.5% to 21.5% for MVP. For particular person and household plans, the plan-level will increase accepted vary from 8.8% to fifteen.3% for BCBSVT and 11.3% to 26.3% for MVP.

**Per member per 30 days (PMPM) is the greenback quantity a member pays every month for a well being care plan. 



Well being Care Subsidies and Extra Assets

  • Roughly 5,500 Vermonters might nonetheless get monetary savings in 2022 on their month-to-month premium by signing up by way of Vermont Well being Join (VHC). To search out out for those who qualify for a subsidy, use the VHC Plan Comparability Instrument. 
  • Vermonters can use the Plan Comparability Instrument beginning October 14, 2022, to match plans for 2023. Open enrollment for 2023 plans begins November 1, 2022.
  • As of August 4, 2022, it stays unsure whether or not Congress will renew for 2023 the expanded premium tax credit initially made out there by way of the American Rescue Plan Act (ARPA).  Info is on the market right here about ARPA and the way it impacts you and your eligibility for premium help.
  • For questions on your medical insurance or well being care entry, please contact Vermont Authorized Support’s Workplace of the Well being Care Advocate at 1-800-917-7787.

Final yr’s filings reviewed by the Board had been considerably impacted by the “unmerging” of the person and small group medical insurance markets for 2022, which was finished to benefit from the improved subsidies out there to people below ARPA. Unmerging the markets had the impact of decreasing small group premiums (BCBSVT -6.2%; MVP 0.8%) and growing particular person premiums (BCBSVT 4.7%; MVP 12.7%) in comparison with what they in any other case would have been, with the improved subsidies offsetting the elevated premiums within the particular person market.

8.4.2022. Montpelier, VT – The Inexperienced Mountain Care Board 


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