VT H0102

Health care sharing plans not authorized as insurance in Vermont must submit annual reports to the Commissioner of Financial Regulation, with the first report due on or after October 1, 2025 and subsequent reports due by March 1 each year

Required reporting includes participant numbers (individuals, households, employer groups), total fees collected, percentage retained for administrative expenses, reimbursement requests submitted and approved, denial rates, and unpaid qualifying expenses

Plans must disclose contracts with Vermont providers, marketing materials, third-party relationships, commissions paid to insurance producers and other parties, and organizational information including officers, directors, and parent companies

The Commissioner must determine submission completeness within 45 days and may impose administrative penalties up to $5,000 per day for unresolved deficiencies, with authority to issue cease and desist orders after 30 days of continued non-compliance

The Commissioner must publish an annual summary report on the Department's website by April 1, 2026 and each October 1 thereafter, including consumer complaint information