As president and CEO of the Greater New Britain Chamber of Commerce, I have witnessed firsthand the financial repercussions of the COVID-19 pandemic on Connecticut’s communities. Compact companies in New Britain, Berlin and Plainville – which comprise the Bigger New Britain Chamber of Commerce – have been hit challenging in excess of the previous 12 months. In buy to defeat this, our state’s lawmakers have to aim their attempts on Connecticut’s economic and public well being recovery.
That is why our chamber and our customers have come out in opposition to SB 842, laws remaining regarded as to build a new, condition-run authorities-managed health and fitness coverage program in Connecticut, recognized as the “state federal government choice.” Although there certainly is home for improvement of Connecticut’s well being care technique, the state govt possibility is the incorrect route ahead.
Relatively than reducing charges, the invoice would require Connecticut’s taxpayers and smaller organization employers to finance the system – shifting the health and fitness treatment prices to the exact same persons the program promises to help.
Not only that, the condition govt possibility could generate up the costs of non-public health and fitness treatment strategies, destabilizing the well being insurance market place in the course of our condition, and perhaps push personal wellbeing insurance plan organizations out of Connecticut’s market totally. Customers would have much less ideas to choose from and could eventually be forced to enroll in the condition governing administration-run wellbeing program.
The state governing administration solution is also comparable to State of Connecticut Partnership Plan, a point out-operate strategy for Connecticut’s municipal personnel that has experienced enormous shortfalls and lacks ideal oversight. As Connecticut taxpayers are already having difficulties with monetary hardships, they do not need to have the extra value and burden of but a further point out federal government wellness insurance technique.
Connecticut’s overall economy is heavily interconnected with the well being insurance policies business, with businesses like Aetna and Cigna headquartered in the condition. The health and fitness insurance policies field is a significant service provider of employment and financial growth in the condition. In simple fact, in 2019, a Connecticut Financial Exploration Middle research concluded that Connecticut’s health and fitness insurance coverage business employed all over 25,000 of the state’s people, having to pay extra than $5.2 billion in complete wages each individual 12 months. An added 23,500 jobs in Connecticut are connected to the wellbeing insurance policies field.
In accordance to the Connecticut Enterprise & Marketplace Association (CBIA), Connecticut lost additional than 100,000 positions in 2020. Over-all, the state’s work lessened by just over 6 %. Enacting a point out authorities selection could reduce employment and inflict irreparable harm on Connecticut’s economic system.
Connecticut policymakers should be centered on rebuilding and rising the economic system, not on pushing through procedures, like Senate Monthly bill 842, that could price tag Connecticut further jobs.
William D. Moore is President and CEO of the Better New Britain Chamber of Commerce.
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