Connecticut residents benefit from a well-developed, competitive health insurance market that’s subject to strict regulation and oversight. Our legislative efforts must be focused on strengthening this system, not upending the current marketplace in favor of proposals—like S.B. 346—that would take us down a pathway towards single-payer and severely threaten consumer choice and access. This “end justifies the means” approach puts the health insurance industry and our economy at further risk. And, to the dismay of many, these bills operate outside the bounds of Department of Insurance regulation.
This state government option bill is wrong for Connecticut. It threatens the current cost of health insurance for consumers, undermines our largest employment sector, and puts our economy in jeopardy by further increasing our unfunded liabilities. If left unchecked, this bill will:
- Pick and choose which elements of the ACA fit the single-payer agenda;
- Unfairly shift costs to Connecticut residents in the commercial market, making them “pick up the tab” for remaining drug and hospital expenses;
- Lock entrants into the Comptroller’s system, making termination difficult and confusing;
- Undermine the $32 million invested annually in the health insurance exchange by offering a competing product under the Office of the Comptroller;
- Overextend Connecticut’s already ballooning state budget at the same time when the state is struggling to address a $2 billion deficit; and,
- Undercut the private market by subsidizing Comptroller program rates with taxpayer dollars.