Health Insurance rates will rise in double digits next year.
"Earlier this year, the Green Mountain Care Board approved a Blue Cross Blue Shield of Vermont rate increase of 12.4% and an increase for MVP Health Care of 10.1%.
This was after a review process where the board reduced the rate requests from Blue Cross Blue Shield and MVP from 14.5% and 10.9%, respectively. The insurers cited growing pharmaceutical costs, use of medical services costs, as well as changes in state and federal taxes and fees as reasons behind the increases."
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