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 choices Thursday requiring Blue Cross Blue Defend of Vermont (BCBSVT) and MVP Well being Plan, Inc to decrease the premiums they needed to cost people and small companies for medical insurance plans in 2023. BCBSVT requested for a 15.4% improve and received 11.7% within the small group (enterprise) plan; MVP requested for a 23.4% improve and received 18.3%. The rise in charges for people have been related (see under). Regardless of the reductions, the charges are nonetheless the very best authorised since August 2019. 

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

The massive charge will increase proposed by MVP and BCBSVT this 12 months have been pushed by a number of elements, together with rising prices for specialty prescribed 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 overview, the Board, performing inside its statutory authority, and balancing plenty of statutory elements, lowered 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 Accredited (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 Accredited (PMPM)**




14.9% ($104 PMPM)

11.4%* ($79 PMPM)




24.4% ($164 PMPM)

19.3%* ($130 PMPM)



*These charge will increase signify averages throughout totally different profit plans with various ranges of value sharing. For small group, the plan-level will increase authorised 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 authorised vary from 8.8% to fifteen.3% for BCBSVT and 11.3% to 26.3% for MVP.

**Per member per thirty 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 lower your expenses in 2022 on their month-to-month premium by signing up by Vermont Well being Join (VHC). To seek out out in case you qualify for a subsidy, use the VHC Plan Comparability Software. 
  • Vermonters can use the Plan Comparability Software beginning October 14, 2022, to check 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 obtainable by the American Rescue Plan Act (ARPA).  Info is out there 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 Help’s Workplace of the Well being Care Advocate at 1-800-917-7787.

Final 12 months’s filings reviewed by the Board have been considerably impacted by the “unmerging” of the person and small group medical insurance markets for 2022, which was carried out to make the most of the improved subsidies obtainable to people below ARPA. Unmerging the markets had the impact of reducing 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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