BURLINGTON, Vt. (WCAX) – Blue Cross Blue Shield, Vermont’s largest commercial health insurer, says it’s at a crisis point.
With BCBS near declaring bankruptcy, lawmakers are taking action.
Bill H.482, which was delivered to the governor Friday, gives the state’s health care regulators the power to reduce the amount health insurers have to reimburse hospitals if the insurer is at imminent risk of insolvency.
“Claims have gone up 18% a year over the past 3 years, it was truly unanticipated, and it’s put an enormous amount of pressure on our health care system, on people paying for commercial health insurance, and on employers here in the state of Vermont.”
Vermont’s largest hospital, the University of Vermont Medical Center, which already paid Blue Cross Blue Shield Vermont $12 million this year, would be directly impacted by this law.
They shared in a statement with us, “H.482 is one of multiple bills moving through the Vermont state legislature this session, all of which have the potential for wide-ranging impacts to patients, families, and providers of health care in the state for years to come, including unintended consequences.”
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Source: Blue Cross Blue Shield claims they are at a 'crisis point'
