HARTFORD, Conn. (WTIC Radio) - Senate Republicans unveiled a plan with legislative proposals that aim to reduce health insurance premiums, address rising prescription drug costs and other means of making health care more affordable for Connecticut residents.
The plan will lower health insurance premiums by up to 30% over the long term with a state-based reinsurance program, reduce healthcare cost growth through benchmarking, tackle practices that drive up prescription drug costs, maximize pool purchase for prescription drugs and health care supplies, and increase transparency and data sharing to drive down costs.
"Cost growth is out of control. Premiums are often the size of a monthly mortgage payment. Drug prices are an enormous burden. All these factors weigh down family budgets and eat into savings, leaving Connecticut families struggling to make ends meet," Senate Republican Leader Kevin Kelly said.
"Health insurance premiums increased in Connecticut in almost every year since 2010, rising a total of $7,064 since 2010, an increase of 47.4%. CT's average insurance premium for family coverage today is $21,952 per year," Senator Tony Hwang said.
"These solutions will make Connecticut more affordable for working- and middle-class families and increase access to health care, without threatening the 48,500 quality private-sector insurance jobs in our state," Senate Republican Leader Pro Tempore Paul Formica said.
The proposals are part of the “Better Way” plan.
