Green Mountain Care Board Approves Rate Increase

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The Green Mountain Care Board has approved its first health insurance rate increase.

The Board was given the oversight of health insurance rate increases under a health care bill passed last year.

The Board approved a 3.6 percent increase in a portion of Blue Cross Blue Shield’s premiums for the upcoming quarter.  The Board acted upon the recommendation of Department of Financial Regulation Commissioner Steve Kimball, saying the increase reflects a prediction of future increases in health care costs.

Blue Cross Blue Shield had originally asked for a 4 percent increase, but the commissioner’s recommendation was reduced to reflect predicted prescription drug cost increases.

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