The mission of the Department of Banking, Insurance, Securities and Health Care Administration is to promote and assure the financial health, stability, quality and integrity of Vermont financial service providers and to effectively manage the transition of health care regulatory functions from the Department to the Green Mountain Care Board. The Department also strives to secure full access for Vermonters to financial and health care services and to protect the public through the consistent enforcement of the laws and regulations necessary to the operation of a healthy and responsible marketplace and through consumer outreach and education programs. The Department achieves its mission through activities including:
Licensing, registering, and chartering individuals and entities under the supervision of the Commissioner
Conducting examinations and audits of Vermont regulated individuals and entities
Providing consumer protection, assistance and education
Requiring industry regulatory filings for evaluation, response and approval
Investigating violations and enforcing Vermont law and regulation
Promoting cost containment in health care through activities including the review of capital expenditure and hospital budgets
Providing data and analysis to advance public policy discussions at state and federal level
Cooperating with other state, federal and international regulators and law enforcement agencies
Responding to evolving markets, trends and legislative initiatives through implementation of efficient and responsible regulation
UnitedHealthcare Agrees To Pay $250,000 Penalty to Resolve Allegations Related to Medicare Supplement Ads
The Vermont Department of Banking, Insurance, Securities & Health Care Administration (BISHCA) has imposed a penalty of $250,000 on the UnitedHealth Insurance Company, part of a negotiated resolution of administrative charges that alleged improper advertising practices by the insurer. “With the receipt of United’s payment today this matter has been successfully concluded,” said BISHCA Commissioner Steve Kimbell.
Bridging a Coverage Gap Between Retirement and Medicare
Many baby boomers may be toying with the idea of early retirement in the new year. For some in this age group, a lifetime of working means a good pension and benefits after they leave the day-to-day grind, but more and more companies are converting retirement benefits, leaving the boomer generation in the precarious position of finding alternative health insurance coverage. If you are considering early retirement or need to consider retirement health insurance options, the National Association of Insurance Commissioners (NAIC) offers these tips for where to look and what to consider in your decision.
