In Vermont, health insurance companies that offer comprehensive major medical plans must ask the Green Mountain Care Board for permission before they can change the amount they charge customers.
Insurance companies ask permission from the Board by filing a “rate request” (or “SERFF filing”). In the filing, the insurance company has to say why they think the Board should approve the proposed changes.
When the Board receives a rate request, they post it on the Vermont Rate Review website. The Board then asks the public for comments and sometimes holds a public hearing. Ultimately, the Board has the power to approve, deny, or impose changes on a request.
The Office of Health Care Advocate (HCA) represents the public in these cases. In this role, the HCA tells the Board how the changes might impact Vermonters and what they think the Board should do. To learn more, please visit our web page about the HCA’s Rate Review Role.
The public (you!) can also get involved and tell the Green Mountain Care Board what you think about the proposed changes. To learn how, please visit our web page on How the Public Can Participate.