This commentary is by Michael Fisher of the Office of the Health Care Advocate, Vermont Legal Aid.
Blue Cross Blue Shield of Vermont and MVP Health Care have asked for double-digit premium price increases for the second consecutive year.
If the requested increases for plans sold on Vermont Health Connect and to small employers (fewer than 100 employees) are approved, premiums will go up, on average, 13.8% for 2024.
This rate increase would impact the health insurance premiums of approximately 68,324 Vermonters and small businesses who buy their insurance through the individual and small employer markets. You can comment about these proposed price increases here.
The Green Mountain Care Board will determine how much the premium price will rise after hearings that will take place on Monday, July 17, for MVP Health Care and Wednesday, July 19, for Blue Cross Blue Shield, followed by a public comment forum on Monday, July 24. If you are interested in attending the public comment forum, you can find information about the forum here.
Small businesses that offer health insurance to their employees face a particularly difficult challenge as they consider how to provide their workers with good coverage while also managing their business costs. There are no federal or state subsidies available to small employers, and employees who have an offer of insurance through their employer cannot generally get financial help through the individual market if their employer’s plan does not work for their health care needs.
This dynamic puts both employers and employees in a difficult position as they face health insurance costs that are increasing at a significant rate.
Many Vermonters who purchase health insurance through Vermont Health Connect have felt less pressure from recent premium increases because of federal rules that increased premium subsidies. These enhanced premium subsidies are significant, but are only guaranteed for two more years.
The Office of the Health Care Advocate acts as the consumer voice in the rate review process. We represent the public in rate review hearings and advocate for affordability in our health care system.
It is our responsibility to tell the Green Mountain Care Board how these proposed rate increases impact Vermonters and their families. To bring attention to these proposed rate increases, we are spreading the word about the public comment process. The Green Mountain Care Board takes public comments on proposed rate filings and will consider them during the rate review process.
Help us bring attention to the lived experience of health care affordability by sharing how the proposed premium price increases would impact you, your family, and your community.
For those of you who own or run small businesses, it is important for the Green Mountain Care Board to hear from you about how the proposed premium increases would impact your ability to provide products and services to the public while continuing to afford good-quality health insurance for your employees. Click here to share your story by July 24 to bring attention to this critical issue.
If you need assistance submitting a public comment, or you want individual advice related to health insurance or access to care issues, contact the Office of the Health Care Advocate’s HelpLine at 1-800-917-7787 or visit www.vtlawhelp.org/health.
