Vermont health insurance rates will increase next year

Vermont health insurance rates will increase next year. The Green Mountain Care Board approved rate hikes: Blue Cross Blue Shield plans will rise by 14% and 13%, and MVP by 11.4% and 11.5%. Rising costs in prescription drugs, staffing, and infrastructure contribute to the increase. This fall, regulators aim to understand health care challenges better. Owen Foster, the board’s chair, emphasized the need for systemic change. Hospital budget reviews are ongoing with decisions anticipated later this summer.