VT S0188

Hospital boards must include at least two voting members appointed by the Governor as public representatives, or at minimum one-sixth of the board, with initial terms of two and three years followed by three-year terms thereafter

Each hospital board must establish a compensation committee with at least two public representatives as voting members to review and recommend all executive compensation packages for board approval

Public representatives must consider effects on patients, employees, and Vermont community interests when making decisions, with liability protections for actions taken in compliance with their duties

Hospitals must file sworn statements with the Green Mountain Care Board before approving executive compensation changes, disclosing all benchmarks, peer group data, and bonus criteria used to set pay for executives including CEOs, CFOs, and vice presidents

The Green Mountain Care Board may require hospitals to modify peer comparison groups and may hire consultants at hospital expense to evaluate compensation materials, with hospitals able to designate submitted information as confidential