Connecticut Senate Bill SB00434

Connecticut 2023 Regular Session

• Introduced: 1/18/23
• Refer: 1/18/23

Caption

An Act Concerning A State-operated Reinsurance Program And The Regulation Of Health Care Cost Growth.

Impact

The legislation is expected to have significant implications for health care regulation in the state. It mandates the Office of Health Strategy to evaluate and modify any unintended impacts on funding for individuals with developmental disabilities when setting primary care spending targets. Additionally, the bill proposes the implementation of a benchmarking program specific to prescription drugs, as well as a study on the effects of spread pricing within drug purchasing, aiming to bolster affordability and accessibility of medications for residents.

Summary

SB00434 aims to establish a state-operated reinsurance program for health benefits under qualified health plans. It proposes to fund this reinsurance initiative through a waiver request to the federal government, allowing the state to utilize premium tax credits and cost-sharing reductions originally intended for enrollees. By implementing this program, the bill seeks to address escalating healthcare costs and provide financial relief within the state’s healthcare framework.

Contention

Discussions surrounding SB00434 have highlighted both support and apprehension among lawmakers. Proponents argue that the reinsurance program can mitigate healthcare costs for families, encouraging broader access to health services and aiding individuals with significant healthcare needs. Conversely, critics have raised concerns about the fiscal implications of reallocating federal funds and the potential impact on state budgets. Furthermore, the effectiveness of the proposed measures to control prescription drug costs remains a topic of debate among public health advocates and industry stakeholders.