UVM Health Network is trying to raise its commercial insurance prices by 7%

The University of Vermont Health Network has asked regulators to allow it to increase its prices for commercial insurers by an average of 7 percent in 2022, VTDigger reported.

The Burlington, Vt.-based health system on July 1 submitted a $2 billion spending plan for its three hospitals in Vermont. The plan seeks to increase net patient revenues by 6 percent in 2022. The 6 percent figure assumes Medicaid reimbursement rates remain flat and Medicare rates only increase by 2.5 percent, so UVM Health Network said it needs to increase private insurers' rates by about 7 percent to make up for what government payers will not pay.

The 7 percent figure represents the average price increase for private insurers across UVM Health Network's three hospitals in Vermont. The University of Vermont Medical Center in Burlington seeks a 7.05 percent increase, Central Vermont Medical Center in Berlin seeks a 7.41 percent increase, and Porter Medical Center in Middlebury seeks a 5.86 percent increase.

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