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Blue Cross Blue Shield to Raise Premiums 9.8% Next Year
By Joe Gullo
BERLIN, Vt. - Blue Cross Blue Shield plans on raising premiums on individuals and small businesses on average of 9.8% next year.
Blue Cross says the increase in premiums was due to changes in the federal and state health care reforms, an increase in the federal fee that is included in exchange pricing, reduction in federal subsidies of premiums, and expansion of dental benefits for children.
“We recognize that this increase is likely to be difficult to absorb for many members who receive their coverage through Vermont’s new exchange products, and we have done everything we can to reduce it,” said Don George, president and CEO of Blue Cross and Blue Shield of Vermont.
The Green Mountain Care Board is expected to issue a final decision on the rates in early September. If approved, the new rates would go into effect starting on January 2, 2015.