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Bill would require governor‑appointed public representatives on Blue Cross board and tighten pay disclosures
Summary
Senate Finance reviewed H.585, including a proposal to require governor‑appointed public representatives on nonprofit hospital service corporation boards (affecting Blue Cross Blue Shield of Vermont) and new sworn executive‑compensation disclosures to the Department of Financial Regulation.
The Senate Finance Committee on March 31 walked through H.585, focusing on new governance rules that would require a minimum number of governor‑appointed public representatives on nonprofit hospital service corporation boards and stricter disclosures about executive pay.
Jen K., legislative staff presenting the bill, said the proposal updates Title 8 language covering nonprofit hospital service corporations and moves portions of the statute into a new board‑of‑directors section. She said the change aims to balance subscriber interests with broader public and community concerns.
The bill adds a defined class, "representative of the public," and requires that two voting members of the board (and in no event less than one‑sixth of the board) be such representatives appointed by the governor, with initial staggered terms of two and three years…
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