Vermont Business Leaders Warn Rising Health Insurance Costs Threaten Small Startups and Job Growth

Some Vermont business leaders are warning that another year of increasing health care costs will leave small startups flatlining. It comes as Vermont health insurance companies this week asked regulators for another round of double-digit increases. “It’s an exciting time to be building a business and a workforce here in Vermont,” said David Bradbury with the Vermont Center for Emerging Technologies. But Bradbury says he’s concerned about what may be a 4th year of double-digit rate hikes for health insurance and how it could stunt job growth, leaving small businesses in critical condition. Experts say Vermont’s health care crisis is fueled by the state’s aging population, and fewer working-age people paying into the commercial insurance pool. Blue Cross Blue Shield of Vermont, which insures about a third of Vermonters, lost some $60 million last year.  Bradbury is already seeing some companies cut positions or fill jobs with automation or artificial intelligence, robots and software that don’t get sick.