WEEKLY UPDATE: 09/05/24
On Tuesday, August 20, a public informational hearing was held on proposed health insurance rate increases for the individual and small group markets. Lawmakers and stakeholders highlighted the importance of everyone, including the health insurance industry, working together to slow the rate of healthcare cost growth.
In a statement, the Connecticut Hospital Association (CHA) stressed that the effects of historic inflation on families and caregivers, Medicaid rates not covering the cost of care, and burdensome insurance practices that add cost and delay care, like prior authorization, remain significant and force caregivers toward higher commercial payments. Action is needed to eliminate national health insurance company administrative practices that raise costs. Reimbursement shortfalls in the state Medicaid program must also be addressed.
CHA’s statement reads in part:
“Governor Lamont and Connecticut hospitals worked together last year toward our shared goal of improving healthcare affordability, passing legislation that further advanced Connecticut as a leader in healthcare cost transparency and patient protections. In the state’s most recent report on the healthcare cost growth benchmark for 2022, the state data showed that medical spending, which includes hospital spending, increased by just 2.6% from 2021 to 2022 — lower than the benchmark target of 3.2% …
“ … We must continue pursuing policies that will help improve affordability without jeopardizing the world-class healthcare delivery offered to every resident or reducing access to critical healthcare services, especially in underserved communities. Affordability, equity, and access must remain our focus, and we look forward to continuing to partner with state leaders committed to advancing these shared goals.”
Click here to read the full press release.
