MONTPELIER, Vt. (AP) - Vermont health care regulators say two of the state’s hospitals must use $11.6 million in surplus revenue from last year to reduce commercial insurance rates.
The Green Mountain Care Board voted Thursday to require the University of Vermont Medical Center in Burlington and the Central Vermont Medical Center in Berlin.
The two hospitals, part of the University of Vermont Health Network, had a combined surplus last year of $23.1 million.
The Burlington Free Press (https://bfpne.ws/2pKS3km ) reports that board member Jessica Holmes said half of the surplus would be used to reduce rates while the other half would act as a “cushion” to help hospitals through potential changes in state or federal funding.
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Information from: The Burlington Free Press, https://www.burlingtonfreepress.com
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