According to our wire report last week, “Vermont’s health care regulator has approved double-digit rate increases for health insurance plans offered through Vermont Health Connect, the state’s health insurance marketplace.”
The Green Mountain Care Board last week OK’d an average increase of 12.4% for Blue Cross Blue Shield and 10.1% for MVP Healthcare.
At the precise moment he was announcing his approval of the staggering rate hikes Green Mountain Care Board Chairman Kevin Mullin said “These rates are not affordable… But at the same time we can’t put a company out of business.”
We presume Mullin was talking about the insurance companies, and not all the small businesses who either will be put out of business or be forced to drop coverage.
It’s good to see the hundreds of millions of dollars spent on Vermont Health Connect, coupled with government proxy oversight via the Green Mountain Care Board, have been so wildly successful at controlling health care costs for Vermonters.