In late August, Vermont regulators announced approved more modest premium increases for the small group and individual health insurance markets than what insurance carriers initially proposed.

Blue Cross saw its original proposed individual market increase cut by nearly 60% and its small group request trimmed down by 68%. MVP’s individual market request was slashed 80% and its proposed small group hike cut by 75%.

NFIB VT applauds regulators at the Green Mountain Care Board and Department of Financial Regulation Commissioner Kaj Samsom for digging into the underlying costs of care that are driving up health insurance premiums for hardworking Vermonters.

The smaller rate increases were also made possible by an important new state law (Act 55, Rep. Alyssa Black) that adopts stringent limits on specialty drug price markups that hospital systems can charge to commercial health insurance plans. Vermont hospitals average the largest markup in the country – 500% – on clinician-administered drugs like intravenous chemotherapy and other injectable medications.

NFIB VT is urging policymakers to do more to bring down premium prices and expand affordable options or small business owners and their employees. Read more here: NFIB: Vermont Small Businesses Need Better Healthcare Options – NFIB.

If you have questions about small business health insurance or feedback on how to improve the system, reach out to NFIB VT State Director John Reynolds: john.reynolds@nfib.org.