Blue Cross will get to raise premiums 9.2 percent
Health care regulators will let Blue Cross Blue Shield of Vermont raise insurance premiums on Vermont Health Connect by 9.2 percent.
The allowed increase is nearly a third less than the 12.7 percent the company originally requested in May. That was the most the company had asked to increase prices since Vermont Health Connect started offering plans in 2014.
The board said the company withheld important information during the regulatory process about the “financial stability” of the company. Once the board got a fuller picture, it said, there was room to cut back the increase for calendar year 2018.
The approved rate increase represents a balancing act, according to the board. “In issuing this decision and order, we first acknowledge the tension between two of our standards for review,” the board wrote in its unanimous decision issued Thursday.
Read more: https://vtdigger.org/2017/08/10/blue-cross-will-get-raise-premiums-9-2-percent/