Proposed Rules and Public Comment

Proposed Rules - Insurance and Healthcare

Proposed Rules - Banking

Proposed Rules - Captive Insurance

Proposed Rules - Securities

Proposed Rules


Currently, there are no proposed rules for the Administration Division.

Insurance and Healthcare


Term and Universal Life Insurance Reserve Financing, Reg. 22-017-I

The Department is proposing a new rule that establishes uniform standards governing reserve financing arrangements pertaining to insurers issuing term and universal life insurance products with secondary guarantees. The new rule formalizes existing Department practices and is based on the National Association of Insurance Commissioners (NAIC) Model Rule 787.

Public Hearing will be held on July 27, 2022, at 9:30 AM. 
Join online Virtual Hearing Access Information or call +1 802-828-7667, Conference ID: 706042979#

Public comments will be accepted through August 5, 2022. Send you comments to Dan Raddock,


Currently, there are no proposed rules for the Banking Division. 

Captive Insurance

Currently, there are no proposed rules for the Captive Insurance Division. 


Currently, there are no proposed rules for theSecurities Division. 

Public Comment

Essential Health Benefits

On March 2, 2022, the Green Mountain Care Board voted unanimously to adopt the recommendation of the Commissioner of Vermont Health Access to exercise the flexibility available under 45 C.F.R. § 156.111 to create a new EHB-benchmark plan for Plan Year 2024 that includes all the existing benefits within the current benchmark plan and coverage for hearing aids – up to one hearing aid per ear every three years and an annual exam.

The Departments of Financial Regulation and Vermont Health Access have prepared the following materials pertaining to the new EHB-benchmark plan for public comment prior to submission to the Centers for Medicare and Medicare Services for approval, as required by federal law. The new EHB-benchmark plan contains the following changes from the previous benchmark plan, approved by the Green Mountain Care Board on July 26, 2015:

  • Coverage for hearing aids – up to one hearing aid per ear every three years and an annual exam;
  • Conforming changes to the following benefits for compliance with 45 C.F.R. § 156.125, which requires that plan benefits do not discriminate based on an individual’s age, expected length of life, present or predicted disability, degree of medical dependency, quality of life, or other health conditions:
    • Nutritional Counseling
    • Habilitative Services
    • Rehabilitative Services
    • Foot Care
    • Prescribed Food and Nutritional Formulae

The new EHB benchmark plan will retain the same number of prescription drugs in each United States Pharmacopeia (USP) category and class as the previous benchmark plan. Please refer to Vermont’s 2017-2023 EHB Benchmark Plan Information, maintained on the CMS website for further details. A draft Appendix D for submission to CMS will be posted to this website as soon as it is available.

The public comment period ends at 5PM EST on Monday, May 2, 2022. Please send your comments to

All documents that are going to be posted for public comment are attached:

Public Hearings

Currently, there are no scheduled public hearings.

Contact Information

Department of Financial Regulation
Consumer Services 
89 Main Street, Montpelier, VT 05620 - 3101

833-DFR-HOTLINE (toll free)
833-337-4685 (toll free)

Public Information
For public records, media inquiries, and press releases visit our Public Information web page

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Employee Information