Board denies health insurance rate hike after subsidy cut
MONTPELIER, Vt. -- Health insurers in Vermont will not be allowed to raise previously approved rates for 2018 in the wake of President Donald Trump's move to block federal subsidies.
The board that approves health insurance rates has denied requests from insurers to immediately raise prices for consumers in an effort to recoup the lost money.
Board chairman Kevin Mullin tells the Rutland Herald there are a number of reasons to avoid a "knee-jerk" increase, including the possibility that Congress will pass legislation to continue the subsidies.
Mullin says it's unclear how much rates might increase in 2019, but acknowledges that insurers may have to "play catch-up."
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