Vermont Health Insurance

The array of health insurance regulations currently in place in the state of Vermont are among the most consumer-friendly in the nation, so most residents who are seeking to buy new coverage here are in an excellent position.  This doesn’t mean that there’s nothing to be gained by knowing what you’re getting into, however— you greatly improve your chances of finding a good deal if you know which areas of the buying process require your attention.  To help you with this process, we offer the following explanation of Vermont’s health insurance regulations.

• Like most states, Vermont requires all insurance companies here to include a clause in each health policy they sell that guarantees its renewability.  As long as you’ve kept up with your premiums you cannot be prevented from renewing your health coverage as many times as you see fit.  Insurers are also prohibited by law from ever cancelling your coverage on the grounds that your health has gotten worse.
• When you sign up for a new health policy in Vermont, insurers are permitted to designate that any pre-existing conditions you bring to the table will be excluded from the policy’s coverage for up to 12 months.  This exclusion can be applied to any health issue for which you were diagnosed or treated within the 12 months before your new policy goes into effect.
• Health insurance companies in Vermont are prohibited by law from refusing any application for health coverage for reasons relating to the health, age, or other risk factors of the applicant.  In addition, any increase in the cost of an existing policy due to health status is strictly limited and can only occur once per year.
• Every person who qualifies to buy health coverage in Vermont is automatically granted access to three state-standardized plans alongside any other policy the insurer my offer.  Each standard plan applies to a different number of people: single, two-person, and family.
• By law, an insurer that offers individual health coverage to any Vermont resident must also offer a family policy if one is requested, unless that resident already has family coverage available to him through his employer’s group health plan.
• Small businesses operating in Vermont automatically have access to group health coverage, and those that have between two and fifty employees must be allowed to purchase any group health plan that is currently offered to other small companies in this state.  On top of this, small businesses here are entitled to choose between two identical health plans with different payment options if so desired.
• Group coverage for small businesses in Vermont may come with certain conditions to be met by the employer, such as maintaining at least a set minimum level of employee participation or contributing a given amount toward each employee’s premiums.  Failing to meet the requirements can potentially mean the outright cancellation of coverage.
• While the same plan may have different costs for different small businesses, insurers are forbidden to take the health of the insured employees into account when determining their rates.  Factors like age, gender, and demographics may be considered, however.
• Self-employed Vermont residents do not automatically have the same access to group health coverage that a slightly larger business would, but they do gain the same legal protections.  In addition, the premiums for a self-employed person’s individual coverage may be partially tax-deductible.

Taking full advantage of the legal protections that you enjoy in a state like Vermont is much easier once you’ve learned exactly what those protections are.  With a bit of patience and an array of quotes and offers in hand, you stand an excellent chance of finding the coverage you’re looking for at an excellent rate.

From Our Customers