MVP Rate Review Decision Issued

On May 8, 2020, MVP proposed an average annual increase of 7.3% over 2020 premiums offered on Vermont Health Connect, with proposed increases per plan ranging from 0.5% to 9.5%. On August 14, 2020, the Board modified and approved an average annual rate increase of approximately 2.7%, with plan level increases ranging from -3.9% to 4.7%.

Docket No. GMCB-006-20rr

SERFF No. MVPH-132371260 - Final 

Date Posted to Web: May 11, 2020

Date Updated: August 14, 2020

This filing represents MVP's Large Group Point of Service (POS) riders to provide out-of-network coverage as a supplement to in-network coverage provided on other MVP product lines. These riders are directly associated with MVP's Large Group HMO line of business (GMCB-008-19rr). 

MVP is proposing an average annual rate increase of approximately 17.3% for its Large Group members. The Point of Service (POS) riders associated with MVP's Large Group HMO line of business are contained in GMCB-007-19rr. With the Board's ordered modifications, the average annual rate increase for 1Q20 will be approximately 15.0%, instead of the 16.7% proposed in the filing, and we expect that, on average, the premium increase experienced by groups renewing in 1Q20 will be approximately 7.0%, instead of the 8.4% initially projected by the carrier.

On May 10, 2019, MVP proposed an average annual increase of 9.4% over 2019 premiums offered on Vermont Health Connect. Proposed increases per plan ranged from 5.0% to 23.7%. Following a review of the filing by Lewis & Ellis, the Green Mountain Care Board’s contract actuaries, MVP increased its proposed rate from 9.4% to 10.9%. On August 8, 2019, the Board modified and approved an average annual increase of 10.1%, with plan-level increases ranging from 5.7% to 13.6%.

Docket No. GMCB-005-19rr

SERFF No. MVPH-131934219 - Final 

Date Posted to Web: May 13, 2019

Date Updated: October 21, 2019

This filing represents MVP's Large Group Point of Service (POS) riders to provide out-of-network coverage as a supplement to in-network coverage provided on other MVP product lines. These riders are directly associated with MVP's Large Group HMO line of business (GMCB 10-18rr). 

Docket No.: GMCB-011-18rr

SERFF No: MVP-131604447 

Date Posted to Web: 08/08//2018

MVP proposed an average annual rate increase of approximately 13.7% for its Large Group members. The Board reviewed the filing and ordered modifications that reduce the average annual rate increase to approximately 11.5%. Point of Service (POS) riders associated with MVP's Large Group HMO line of business are contained in GMCB-11-18rr.

Docket No.: GMCB-10-18rr

SERFF No: MVP-131604445

MVP proposes an average annual increase of 10.9% over 2018 premiums offered on Vermont Health Connect. Proposed increases per plan range from 4.2% to 30.7%. Note, many Vermonters will qualify for more premium tax credits to help with the highest increases. On August 9, 2018, the Green Mountain Care Board ordered MVP to reduce the rate from 10.9% to 6.6%. 

Docket No. GMCB 008-18rr

SERFF No. MVPH-131497138

MVP proposes an annual average rate increase of 3.80% for 3Q and 2.8% for 4Q 2018. The MVP large group HMO plans cover 2,275 Vermont members. Point of Service (POS) riders associated with MVP's Large Group HMO line of business are contained in GMCB-006-18rr. On June 20, 2018, the Green Mountain Care Board ordered MVP to reduce the rate to 2.32%.