(photo) Sen. Hwang Supports Bipartisan Measure for Affordable CT Health Insurance Options

February 22, 2023

February 21, 2023

Sen. Hwang Supports Bipartisan Measure for Affordable Health Insurance Options for Small Businesses, Nonprofits

Measure will create affordable healthcare options for small businesses with fewer than 50 employees.

Sen. Tony Hwang today joined a bipartisan group of lawmakers and a coalition of business groups, chambers of commerce, and nonprofit organizations to support legislation offering healthcare relief for struggling small businesses in Connecticut.

“This show of broad based and bipartisan – and bicameral – support for this legislation today is very encouraging,” Sen. Hwang said.  “It also shows that we all agree that for middle-class Connecticut families, the cost of health care is anything but affordable.

H.B. 6710 allows small employers to pool together to jointly purchase large group health insurance plans directly from a carrier, making health insurance more affordable and accessible. Small employers with less than 51 employees cannot currently access the large group market.

Many of these employers are increasingly moving to level-funded and self-funded arrangements due to the small group market’s rapidly increasing premiums and limited health benefits.

Under this bill, groups can negotiate directly with an insurance company to design a plan that meets their needs with lower administrative costs, rating flexibility, and increased buying power.

The bill also allows trade and industry associations of significant scale to offer self-funded insurance plans regulated by the Connecticut Insurance Department and subject to the Affordable Care Act’s 10 essential health benefits and state-mandated benefits.

These plans will help improve patient outcomes, incentivize healthy lifestyles, and keep healthcare costs down.

“Last week, the Senate Republican Caucus unveiled ‘A Better Way to Affordable Health Care’ – a set of legislative proposals aimed at lowering the cost of health care in Connecticut,” Sen. Hwang said.  “Our plan does that through transparency, through competition, and by enabling the marketplace work better for the consumer.  And one part of our plan includes the ideas set forth in H.B. 6710. We won’t stop fighting to create a more affordable Connecticut.”

Organizations supporting H.B. 6710 include:

— The Connecticut Business and Industry Association (CBIA)
— The Credit Union League of Connecticut
— The Connecticut Community Nonprofit Alliance
— National Federation of Independent Business
— Connecticut Restaurant Association
— Connecticut Brewers Guild
— Greater Danbury Chamber of Commerce
— Greater New Haven Chamber of Commerce
— Greater Valley Chamber of Commerce
— Greater Waterbury Chamber of Commerce