Connecticut House Bill HB05429

Connecticut 2011 Regular Session

• Introduced: 1/19/11
• Refer: 1/19/11
• Refer: 3/10/11
• Report Pass: 3/17/11
• Refer: 3/29/11
• Report Pass: 4/5/11

Caption

An Act Concerning The Availability Of Medicare Supplement Insurance To Persons Eligible For The Qualified Medicare Beneficiary Program.

Impact

The proposed changes are expected to have a significant impact on state laws related to healthcare insurance. Specifically, the bill mandates that no Medicare supplement policy may be issued unless it meets a minimum anticipated loss ratio of sixty-five percent, ensuring that a significant majority of policyholder premiums go toward actual healthcare expenses rather than administrative costs. Additionally, it includes provisions that guarantee coverage for home health aide services under certain conditions and specifies annual mammogram coverage for women, directly enhancing consumer protections within the realm of Medicare services.

Summary

House Bill 05429 is focused on enhancing the accessibility of Medicare supplemental insurance for individuals eligible for the Qualified Medicare Beneficiary Program in the state. The bill proposes amendments to the regulations governing Medicare supplement policies, aiming to provide clearer guidelines and enhanced benefits for individuals who rely on these policies to cover healthcare expenses not fully attended to by Medicare. By ensuring that insurance providers adhere to specific loss ratios and benefit standards, the bill seeks to improve the quality of supplemental coverage available to qualifying residents.

Sentiment

The sentiment surrounding HB05429 appears largely positive, with advocates highlighting the importance of improving access to necessary supplemental insurance for vulnerable populations, particularly the elderly. Legislators and health advocacy groups generally view the bill as a positive move towards ensuring that Medicare beneficiaries can obtain adequate coverage for essential health services without encountering excessive out-of-pocket costs. However, there may be some concern regarding the implementation details and the impact on insurance companies who will need to adapt their offerings to comply with these stricter regulations.

Contention

While there is strong support for the intent behind HB05429, some points of contention may arise regarding the regulatory implications for insurance providers. Opponents may argue that increased regulations can impose burdens on providers, potentially leading to increased premiums or reduced availability of supplement policies. Additionally, achieving compliance with the loss ratio requirements may challenge some insurers, particularly smaller companies, which could lead to consolidation in the market or result in limited choices for consumers. The upcoming discussions in the legislative session will likely address these concerns as stakeholders weigh the potential benefits against the regulatory burdens.