Blue Cross and Blue Shield of Vermont requests 12.7% price hike: 5 things to know

Blue Cross and Blue Shield of Vermont submitted a proposal to increase its 2018 rates by 12.7 percent, according to Burlington Free Press.

Here are five things to know:

1. The largest health insurer in the state, BCBS of Vermont, is requesting a double-digit increase because state residents are aging and the ACA federal tax mandate did not take effect last year, which caused financial losses.

2. High healthcare utilization rates and pharmacy costs also drove the payer to boost it prices.

3. A BCBS of Vermont representative said the proposal was "not welcome news."
 The payer submitted the proposal to the Green Mountain Care Board that regulates the state's healthcare system.

4. The board is at a standstill as it won't make any major decisions its current three board members reach a consensus on certain proposals including the Green Mountain Surgery Center.

5. The chairman left in December and another board member left a month later, leaving the board short of two members.

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