Lawmakers advocate for policies to reduce health insurance premiums over the long term, rein in of control health care cost growth, address prescription drug prices, and increase transparency/data sharing
VIDEO: https://youtu.be/Lfee82tJjI4
HARTFORD – Today Senator Tony Hwang (R-28) together with Connecticut Senate Republicans unveiled a plan to make health care more affordable for Connecticut residents.
The lawmakers shared a package of legislative proposals that will reduce health insurance premiums, rein in out of control cost growth, address rising prescription drug costs, and increase transparency and data sharing to drive down costs.
The proposals are part of the Senate Republican leaders’ “Better Way” to a more affordable, transparent, and healthy Connecticut.
“For working- and middle-class Connecticut families, health care is anything but affordable,” said Senate Republican Leader Kevin Kelly (R-Stratford). “Cost growth is out of control. Premiums are often the size of a monthly mortgage payment. Drug prices are an enormous burden. All these factors weigh down family budgets and eat into savings, leaving Connecticut families struggling to make ends meet. Now more than ever Connecticut families know how important quality and accessible health care is. Senate Republicans have pushed for action year after year. We again urge lawmakers to provide relief with these commonsense policies.”
“Our caucus’s solutions will make Connecticut more affordable for working- and middle-class families and increase access to health care, without threatening the 48,500 quality private-sector insurance jobs in our state. We are offering a better way to both a more affordable and a healthy Connecticut,” said Senate Republican Leader Pro Tempore Paul Formica (R-East Lyme).
“The promises of the Affordable Care Act – to create affordable and accessible quality care for all people – have not been delivered for far too many CT residents,” said Senator Tony Hwang (R-Fairfield), ranking member of the General Assembly’s Insurance Committee. “Health insurance premiums increased in Connecticut in almost every year since 2010, rising a total of $7,064 since 2010, an increase of 47.4%. CT’s average insurance premium for family coverage today is $21,952 per year. Families need relief. Today, Senate Republicans are again sharing our ideas to fix the current system, so you can keep your insurance, keep your doctor, and still get savings. It is a better way, a common sense, pro-family, pro-jobs, and pro-middle-class path.”
The CT Senate Republican plan will:
- Reduce health insurance premiums by up to 30% over the long term by implementing a state-based reinsurance program
- Reduce healthcare cost growth through benchmarking
- Address prescription drug affordability by tackling practices that drive up the costs of prescription drugs by examining pharmacy benefit managers (PBMs) and practices such as spread pricing
- Maximize pool purchasing for prescription drugs and health care supplies
- Increase transparency and data sharing to drive down costs
Read the full plan HERE.
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