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Draft Bill Would Let Green Mountain Care Board Order Insurer Rate Reductions to Protect Hospital Solvency
Summary
Legislative counsel told the Vermont Senate Health and Welfare Committee on May 7 that draft H.482 would permit the Green Mountain Care Board, after consulting the Department of Financial Regulation, to order a reduction in a domestic insurer’s reimbursement rates to one or more Vermont hospitals if that insurer faces an acute, immediate threat to solvency.
Legislative counsel told the Vermont Senate Health and Welfare Committee on May 7 that draft H.482 would permit the Green Mountain Care Board, after consulting the Department of Financial Regulation (DFR), to order a reduction in a domestic insurer’s reimbursement rates to one or more Vermont hospitals if that insurer faces an acute, immediate threat to solvency as indicated by its risk‑based capital metrics.
“Notwithstanding any provision of 3 VSA chapter 25 to the contrary ... the board's activities under this section shall not be considered to be in contested case,” counsel said while explaining the…
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