HARTFORD, CT – The 2024 legislative session in Connecticut is coming to a close, with Senate Republicans expressing disappointment over the legislature’s failure to pass any bills aimed at lowering health insurance costs in the state. The Republicans highlighted the inability of the insurance committee to advance legislation to address the high health insurance rates faced by Connecticut families, despite the state being known as the “Insurance Capital of the World.”
The clash between the co-chairs of the Insurance and Real Estate Committee, Rep. Kerry Wood and Sen. Jorge Cabrera, was revealed earlier in the session when the committee failed to move any bills forward by its March 21 deadline. However, Wood later stated that the committee successfully incorporated four bills into House Bill 5503 through a strike-all amendment, which was passed by the House on May 3 and was awaiting action in the Senate.
Among the bills that did not progress out of the committee was House Bill 5247, which would have allowed employee health benefit consortiums to help reduce health insurance rates. Senate Republicans emphasized the need for bipartisan legislation to make insurance more affordable for working and middle-class families, criticizing the lack of progress in addressing the issue.
Responding to the criticism, Wood acknowledged the challenges in enacting meaningful reform due to insufficient support for the proposed changes. Members of the committee, from both parties, issued a statement highlighting the urgent need for reform to prevent the further deterioration of the small group insurance market and the subsequent migration of employers to the self-funded market.
The frustration over the lack of progress on health insurance costs was exacerbated by the decision of Cigna Healthcare and Oscar to exit Connecticut’s small group health insurance market. The companies cited Dec. 15, 2024, as the last date for employers to begin or renew policies in the state, prompting concerns about the impact on the market.
Despite efforts in the committee to address the challenges facing the insurance market, the statement from committee members lamented the failure of the bills to gain sufficient support. The ongoing debate underscores the complexities of healthcare reform and the need for bipartisan collaboration to navigate the challenges faced by Connecticut residents in accessing affordable health insurance.