State approves hospital rate increases

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Vermont’s 14 hospitals will be seeing their budgets increase next year by an average of 9.5 percent.

The rate increases approved by the Department of Banking, Insurance, Securities and Health Care Administration become effective Oct. 1.

The increases rangers from 3.8 percent at Springfield Hospital to 11.8 percent at Southwestern Vermont Medical Center in Bennington.

Vermont’s largest hospital, Fletcher Allen Health Care, asked for and received a 10 percent increase.

Last year hospitals received an average rate increase of 6.3 percent.

Officials say the Medicare and Medicaid reimbursement policies and the increasing costs of fuel, food and other inflationary expenses accounted for some of the larger increase.

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