On July 23rd, the Green Mountain Care Board hosted a public comment forum regarding the requested rate increases for health insurance by Blue Cross Blue Shield and MVP. There were dozens of people in attendance, many of whom shared painful and personal stories of the real impact rate increases have had, and will have, on their lives.
Campaign for Vermont's Executive Director was in attendance and made the following statement in opposition to the proposed rate increases.
This commentary is by John Pelletier, Director of the Center for Financial Literacy at Champlain College.
On July 10, Fitch, a major credit agency, reduced Vermont’s bond rating. This was expected, after Moody’s, another large credit agency reduced Vermont’s bond rating in October. Both rating agencies have the same concerns about Vermont and its economy. As a result, future state and municipal borrowings costs will increase.
Why is this happening? Because Vermont faces daunting “economic and demographic headwinds.” We have heard these concerns for years. Vermont’s population and its workforce is flat or declining, our economic growth is slow and our citizens are old. And our state’s unfunded pension and health care liability for current and future teacher and state employee retirees is large and growing.Read more
"The report underscores, once again, the State’s demographic challenges as a deciding factor. The AA+ rating ‘is sensitive to changes in the State’s fundamental economic growth trajectory,’ according to the report. It also notes: ‘Material and sustained improvement in the State’s demographic profile, such as through consistent population and labor force gains, could support revenue growth prospects and a more robust revenue framework assessment.’"
One day you jump into your car and turn the key. After ten seconds of chugging over, the engine finally catches and with big puff of blue-black smoke and a din that sounds like an asthmatic lion, off you go. 15 minutes later, as you sit on the side of the interstate listening to the tick-tock of your emergency flashers and waiting for AAA, it becomes undeniably clear: it’s time for a new car.Read more
Campaign for Vermont (CFV) recently released an article titled “Vermont is in Trouble.” We were blown away by the response. Over just a few days it was seen by more than 30,000 people, garnered more than 200 comments, and was shared nearly 800 times.Read more