Overview of 2015 Rates
The 2015 health plans and rates are the result of the State of Vermont's Rate Review Process. The Green Mountain Care Board cut proposed rate increases for Blue Cross Blue Shield of Vermont (BCBSVT) plans from an average increase of 9.8 percent to 7.7 percent and MVP Health Care (MVP) plans from 15.3 percent to 10.9 percent.
If you're wondering how these new rates will impact you, it depends on whether you qualify for financial help and which health plan will best meet your needs. Here are a couple of important points to consider:
1) Most Vermont Health Connect customers will be shielded from the full impact of rate increases. Over the last decade, health insurance premiums nationally – and in Vermont – have increased much faster than inflation. Thanks to the federal premium tax credits (APTC) and Vermont Premium Assistance (VPA), however, the extent of this year’s increases will be softened for the majority of Vermont Health Connect customers who qualify for those benefits. In addition, open enrollment is a time when customers can change their plan selection to better meet their medical and financial needs.
2) The rate increases underscore the importance of Vermont’s drive to contain the cost of health care and provide universal coverage. Unfortunately, some Vermonters with higher incomes don't qualify for premium tax credits and therefore are directly and fully impacted by insurance rate hikes. The cost of finding health care in general is also a concern. For this reason, Vermont is committed to creating a universal system to ensure every resident has access to high quality health care.
Curious about the 2014 Vermont Health Connect plans? Check out our 2014 Health Plans page.