Proposed double-digit health care premium increases could be even larger if a current federal tax credit expires, according to a statement released by the Green Mountain Care Board, the State of Vermont’s health insurance regulator.
On Monday, May 12, the Green Mountain Care Board (GMCB) received proposed 2026 health insurance premium rates from BlueCross BlueShield of Vermont and MVP Health Plan for both the individual and small group markets. The proposed rate filings have been posted to GMCB’s official rate review website at ratereview.vermont.gov, marking the start of a months-long public review process.
The average rate increases requested by the insurers are substantial, particularly for individuals. BlueCross BlueShield of Vermont is seeking a 23.3% increase for individual plans and a 13.7% increase for small group plans. MVP Health Plan has proposed smaller, yet significant, hikes of 6.2% for individual coverage and 7.5% for small group plans.
The filings come amid growing concern over the potential expiration of federal enhanced premium tax credits, which are currently helping to offset the cost of individual health plans. These enhanced tax credits are set to expire on December 31, 2025, unless Congress acts to extend them. Both insurers cited the anticipated loss of these credits as a contributing factor in their rate proposals, warning that the lapse could lead to even higher net costs for Vermonters.
“This marks the beginning of a rigorous public review process,” GMCB said in a statement. The board will hear from actuaries, the insurers, the Health Care Advocate, the Department of Financial Regulation, and members of the public before making final decisions, which are expected in August.
GMCB has scheduled public hearings to review the filings:
BlueCross BlueShield of Vermont: Monday, July 21 at 8:00 a.m.
MVP Health Plan: Wednesday, July 23 at 8:00 a.m.
A Public Comment Forum is also scheduled for Thursday, July 24 at 4:00 p.m., offering Vermonters an opportunity to voice their opinions and concerns directly to the board.
Public comments will be accepted through July 28, 2025, and GMCB encourages community participation. Details on how to attend or submit comments, along with meeting materials and updates, will be made available on the GMCB website.