Healthcare Mandates Cost Millions
Healthcare benefit mandates still under consideration by the legislature could cost the state millions of dollars.
Just one of these proposed mandates, says the state’s Office of Fiscal Analysis, will have a multi-million-dollar impact—each—on the state budget, various municipal budgets, and the state’s employee health and retirement plan (HB 5230).
Overall, HB 5230 will add about $7.8 million to healthcare costs in Connecticut.
Another two (HB 5233 and SB 37) will carry an overall financial impact of more than $1.5 million.
So considering that Connecticut is already a mandate-heavy state compared to states across the country it’s not surprising that this state also has among the nation’s highest healthcare costs.
It’s also easy to see why employee healthcare costs continue to be one of the top concerns keeping small business owners awake at night.
A health benefit mandate is a procedure or service that the state requires health insurance carriers offer in smaller employer and individual plans.
The more procedures or services that a health insurance plan is required to include, the higher the cost of the plan.
Now is certainly not the time to add more mandates, nor more costs.
CBIA urges Connecticut state lawmakers to reject these proposals as unaffordable.
For more information, contact CBIA’s Jennifer Herz (860.970.4404) | @CBIAjherz
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