Vermont Chamber Supports Continued Health Care Savings for Small Business

S.54 will keep the small group and individual markets separate for the duration of the federal premium tax credit expansion through 2025. The Vermont Chamber, a successful leader on this issue, continues to support keeping the small group market separated from the individual market, and while the issue is momentarily addressed, cost-shifting questions beyond the next few years remain to be addressed.

In testimony, the Vermont Chamber reminded members of the Senate Finance Committee that the small group market represents only 6% of the overall health insurance landscape. Amid economic uncertainty, legislators were also asked to consider the small business financial implications of re-merging the market and to work towards a plan that ensures they are not burdened with the full cost of holding the individual market harmless in 2025.  

February 10, 2023

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Healthcare Roundup

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.

November 17, 2022