Vermont H0482 grants the Green Mountain Care Board authority to adjust hospital reimbursement rates and appoint hospital observers.

Vermont H0482 allows the Green Mountain Care Board to adjust hospital reimbursement rates if a domestic health insurer faces an imminent risk of insolvency. The Board can reduce rates to hospitals that have sufficient cash reserves or positive operating margins. The bill also permits the Board to appoint an independent observer to oversee hospitals that have made material misrepresentations or are noncompliant with their budgets. The authority to appoint observers is set to be repealed on January 1, 2030. The act takes effect upon passage.

Vermont H0482 grants the Green Mountain Care Board authority to adjust hospital reimbursement rates and appoint hospital observers.

Vermont H0482 allows the Green Mountain Care Board to adjust hospital reimbursement rates if a domestic health insurer faces an imminent risk of insolvency. The Board can reduce rates to hospitals that have sufficient cash reserves or positive operating margins. The bill also permits the Board to appoint an independent observer to oversee hospitals that have made material misrepresentations or are noncompliant with their budgets. The authority to appoint observers is set to be repealed on January 1, 2030. The act takes effect upon passage.