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As we inch closer to Open Enrollment, it is essential that both employers and employees have a clear understanding of key terminology before making important benefits decisions. This knowledge not only empowers employees to make informed choices about their coverage but also helps employers prevent potential misunderstandings in the future.
The decisions made during this period can have a lasting impact on one’s health, finances, and overall well-being – underscoring the importance of early and thorough preparation.
Attached is a reference guide containing common questions and answers you may encounter during this time of year. In addition, your Acrisure partner(s) are available to support employee education efforts and serve as a trusted resource throughout the enrollment process.
In Case You Missed It
The Green Mountain Care Board (GMCB) has completed its review of 2027 Qualified Health Plan (QHP) rate filings from Blue Cross and Blue Shield of Vermont (BCBSVT) and MVP Health Plan, Inc. The approved increases are significantly lower than the requested amounts. See below for the approved average increases:
- BCBSVT (Small Group Market): Requested 4.5% → GMCB approved 1.2%
- MVP (Small Group Market): Requested 9.10% → GMCB approved 6.20%
The graph above was provided by VT Digger. Additional context and information are available in an article published by VT Biz.
Note: These increases are not yet final to each of the plans offered in the state Exchange, as changes in plan design could still affect the final rates.
Upcoming Training Reminder
On September 17 from 2 PM to 3 PM, Acrisure will be holding Recognize, Respond, Resolve: Addressing Preventing Employee Frustration, Disengagement and Conflict. This training webinar is open to all VLCT members.
In this one-hour session, discover practical approaches and strategies for identifying and addressing employee frustration, disengagement, conflict, and productivity concerns in the workplace. It will provide tools for having constructive conversations; understanding and identifying potential underlying issues; and fostering a healthier, more productive work environment.
This event is a part of Acrisure’s continued education series and free of charge. Registration is required, so be sure to sign up in advance.
Compliance Disclaimer:
This communication is for informational purposes only and should not be considered legal or tax advice. Employers should consult with legal counsel or other appropriate professionals regarding their specific compliance obligations.