Qualified Health Plans (QHPs) must comply with provisions of the Affordable Care Act. Annually, Vermont Health Connect reviews the QHPs at each metal level (bronze, silver, gold, platinum) and makes recommendations to the GMCB for changes so that each QHP meets the appropriate actuarial value and complies with federal requirements. At its February 11, 2016 public board meeting, the GMCB reviewed and approved the recommended changes for 2017. The plan changes can be viewed here:
An independent evaluation of Vermont’s use of federal grant funds and its impact on the rate review process concludes that Vermont’s review process has saved consumers approximately $66 million since 2012, or three percent of total proposed premiums. In addition, the evaluation concludes that Vermont’s review process is efficient, fair and thorough, and that our rate review website is meeting the needs of Vermont consumers. Read the report on the GMCB website:
On May 11, 2016, Blue Cross and Blue Shield of VT (BCBSVT) and MVP Health Plan, Inc. (MVP) filed their 2017 VT Health Connect Rate Filings. BCBSVT proposes an average annual rate increase of 8.2%. MVP proposes an average annual rate increase of 8.8%. The Board has begun its review of the filings and the public is encouraged to submit comments through July 26, 2016. The Board will hold hearings on the proposed rate increases on July 20 (BCBSVT) and July 21 (MVP) at its offices in Montpelier. Hearings are open to the public. The Board's decisions approving, modifying or disapproving the rate filings will be issued August 9, 2016.
Additional information is available on this website under "View Filings and Decisions."
The Green Mountain Care Board (GMCB) anticipates receiving the 2016 Vermont Health Connect (VHC) rate filings on May 15, 2015. The filings will be posted to this website within five days of their receipt, after which time the public may submit comment on the proposed rates. The Board has 90 days form the date of the rate submissions (no later than August 13, 2015) to review and issue written decisions approving, modifying, or disapproving the filings. Final written decisions will be posted to this website.