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Green Mountain Care Board urges caution on insurer governance, executive pay and age‑rating changes
Summary
Green Mountain Care Board leaders told legislators proposed statutory changes that add public appointees to insurer boards, require executive-compensation transparency and permit limited age rating should be adopted only after actuarial and market analysis, warning the changes could have complex effects on premiums and the state’s insurance risk pool.
Joan Foster, chair of the Green Mountain Care Board, and Emily Brown, the board’s executive director, testified that the bill’s governance changes — adding public representatives appointed by government to the board of directors of a domiciled insurer — would increase transparency and provide oversight that better aligns insurer decisions with statewide health goals.
Foster pointed to recent examples of large executive compensation increases during periods of financial stress at large nonprofit providers and insurers, saying greater public oversight of compensation benchmarks…
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