Several evolvements in the shifting healthcare landscape have made headlines in recent months:
- On the national level, Sen. Joe Manchin and Majority Leader Sen. Chuck Schumer came to an agreement on Affordable Care Act (ACA) subsidies, extending the subsidies to 2025 with the passage of the Inflation Reduction Act. The subsidies, eligible to those purchasing in the Vermont Health Connect marketplace, were previously set to expire at the end of 2022.
- Without those federal subsidies, employees of small businesses would have paid more for health care. The Vermont Chamber participated in the working group, as per H.489 (Act 137), with the Department of Financial Regulation and the GMCB to make recommendations on maintaining separate individual and small-group health insurance markets. The extension of the ACA subsidies at the federal level provides a longer runway for this work.
- Last session, the Vermont Chamber advocated to maintain separate markets, securing $17.7 million in healthcare savings for small businesses. However, premiums are trending up for 2023 as the GMCB’s 2023 rate review forecasts nearly 20% increases.
- In September, Governor Scott announced new appointments to the Green Mountain Care Board (GMCB) adding one new member, Dr. David Murman of Waterbury, and retaining Board member Robin Lunge of Berlin, who will serve on the 5-person board alongside the newly appointed board chair, Owen Foster of Middlebury. The GMCB is charged with balancing increasing health costs and insurance rates without overly burdening ratepayers.
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