MONTPELIER, Vt. (AP) – Two health care insurance providers who offer plans on the Vermont Health Connect exchange are seeking to raise premiums by more than 8 percent for 2017.
MVP Health Care and Blue Cross Blue Shield of Vermont on Wednesday submitted proposals to the Green Mountain Care Board, the state’s health care regulatory body.
Blue Cross is seeking an average increase of 8.2 percent. MVP asked for an average increase of 8.8 percent, which is triple the increase its customers saw between 2015 and 2016.
The board will now begin a review process. Members say the board might reduce those rates if it’s determined that they aren’t justified.
Chairman Al Gobeille says Vermont has seen lower rate increases compared to other states.
A final decision from the board is expected Aug. 9.