Burlington-based the University of Vermont Medical Center has had its plans for a 10 percent increase of commercial insurance rates struck down, according to a Sept. 14 WCAX report.
Instead, a 3.1 percent increase was approved in the amount of money the hospital can charge commercial insurers. Regulators making the decision have also asked the hospital, the largest facility in the state, to find savings in its budget and report back within three months, the report said.
"We are beginning the process of reviewing the impact of today's decision," according to a statement from the hospital. "When the board's detailed written orders are delivered later this month, we will carefully review them to determine what they mean for our patients, employees and community."
Further budget decisions are expected Sept. 15 on other hospital facilities in the state.
Vermont's hospital budgets, which have been subject to state review since 1983, have been regulated by the Green Mountain Care Board since fiscal year 2013.