A state program aiming to increase healthcare quality and decrease healthcare costs in Connecticut is preparing to apply for more federal funds to help get the initiative off the ground.
The steering committee for the State Innovation Model (SIM) recently met to strategize its upcoming request for funding for a SIM Test Grant.
The state plans to submit its application to the Center for Medicare and Medicaid Innovation (CMMI) in mid-July for an opportunity to be awarded between $20 million and $100 million to fund the state’s model over a four-year period.
This year, state lawmakers approved increasing--by millions--an existing assessment through the Department of Insurance (DOI) to help pay for new staff to support the SIM initiative.
Although the DOI assessment is levied on insurance carriers, its cost is passed on to employers in the form of higher insurance premiums. With employers already facing escalating health care costs, any new taxes and fees are a significant concern.
Because the SIM initiative offers a unique opportunity to drive up quality and drive down cost for everyone in the state, so responsibility for funding should be shared by all consumers in Connecticut and not just borne by employers.
In its meeting earlier this month, the SIM steering committee also discussed state standards and stakeholder engagement. The next steering committee meeting will take place July 10.
Visit the state's Healthcare Innovation Steering Committee website for more information about SIM. Or contact CBIA’s Jennifer Herz at 860.244.1921 | firstname.lastname@example.org | @CBIAjherz