The Green Mountain Care Board (GMCB) has released its approved health insurance rates for 2026, following a year of financial strain on providers, patients, and insurance companies.
Despite requests from insurance providers for significant rate increases, the board decided to approve more modest hikes. For example, BlueCross BlueShield had originally requested a 23.5% rate increase for individual and small group plans, but the GMCB reduced this to 9.6%. Similarly, MVP Health’s request for a 6.2% increase in individual coverage was cut down to 1.3%.
GMCB Chair Owen Foster noted that many other states are facing double-digit rate hikes, but Vermont’s approved increases are smaller than initially expected. “The approved rates are better than what we had anticipated,” Foster said.
Even with the lower increases, Vermont still faces the highest health insurance premiums in the country. Foster acknowledged the financial struggles of both Blue Cross and Vermont residents but emphasized the board’s responsibility to balance these competing interests. “Allowing these massive rate hikes would harm people’s ability to access care. The status quo of double-digit rate increases is simply unacceptable,” he said.
The board also reviewed the salaries of hospital executives, stating that these compensation levels do not align with the state’s broader health care reform goals.
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