Becker's Healthcare January 24, 2025
Blue Cross and Blue Shield of Vermont is sounding the alarm about the escalating financial challenges facing the state’s healthcare system, noting that “the cost surge was unrelenting through 2024.”
In a Jan. 14 letter, the company’s president and CEO, Don George, wrote that paid claims have increased by 17% per year since 2020, resulting in significant losses and $100 million in member reserve losses over five of the last six years. In October 2024, the payer incurred a $13.6 million loss, “the highest single month for paid claims in our history,” Mr. George said.
He noted that the company’s spending is 33.5% higher than other BCBS plans in the Northeast and 42.7% higher than the national average.
According...
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