MONTPELIER, Vt. (AP) — Vermont regulators on Monday announced monthly rates for health insurance to be sold under Vermont Health Connect, the health insurance exchange being set up to comply with the federal Affordable Care Act.
Middle- and upper-class consumers who begin buying through Vermont Health Connect when it takes hold of Vermont's individual and small-group health insurance markets in January won't notice much difference in costs of insurance and benefits provided, according to the state's largest insurer and the chairwoman of Vermont's Green Mountain Care Board, which approved the rates.
But for those of moderate and lower incomes, federal tax credits and state premium subsidies designed to help pay the cost will make health insurance a better deal than it is now, GMCB Chairwoman Anya Rader Wallack said.
"For those who qualify for the tax credits and premium subsidies, there's a pretty big difference," Wallack said. "In terms of just comparisons with prices in the marketplace (today), the difference is less dramatic," she said.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
