H.245 is a legislative bill aimed at expanding the authority of the Green Mountain Care Board (the Board) in Vermont to include oversight of health networks in addition to hospitals. The bill introduces new definitions for "health network" and outlines the Board's responsibilities to investigate monopolistic practices in the healthcare sector, enhancing its ability to manage healthcare costs and promote public welfare. Key amendments allow the Board to set methodologies for budget assessments and reference-based pricing, while also increasing penalties for violations of budgetary provisions.

The bill also addresses financial emergencies by permitting the Board to issue orders without prior notice if there is an immediate threat to public safety or the financial stability of a hospital or health network. It ensures that affected entities are informed of their right to a hearing within 30 days of their request and establishes a process for reducing expenditures in cases of budget violations. Additionally, it requires hospital and health network officers and directors to file certain information under oath, with penalties for false information. The new provisions will take effect on July 1, 2025, with budget review amendments applicable starting with the hospital fiscal year 2027, ultimately aiming to enhance oversight and accountability in Vermont's healthcare system.

Statutes affected:
As Introduced: 18-9375, 18-9376, 18-221