STATEMENT OF SEN. CABRERA ON TODAY’S INSURANCE DEPARTMENT PUBLIC HEARING ON PROPOSED INDIVIDUAL AND SMALL GROUP INSURANCE RATES FOR 2025

Senator Jorge Cabrera (D-Hamden) is Senate Chair of the Insurance and Real Estate Committee.

“I understand insurance company arguments that they are simply passing along higher pharmacy and hospital costs via premium rate increases onto their customers, but this annual rate review process has sounded like a broken record for several years now. Connecticut sets price targets, insurance companies come in way above these targets, the Insurance Department cuts the rate requests in half, but consumers still end up paying more every year. As was stated today, a third of state residents are struggling to pay their medical bills, and nearly half are forgoing medical care because of the high cost.

“What we need to do is re-double our efforts to pass a public option here in Connecticut, where individuals and businesses can buy into the state’s health insurance plan. We’ve raised several public option bills in recent years, and they’ve all received vehement opposition from Republicans. But the segment of Connecticut’s healthcare consumers who are in these small group and individual markets – about 200,000 people – need another high-quality, affordable health insurance option. And that option is the public option. This should be a priority for the General Assembly in 2025.”

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State Senator

Jorge Cabrera

Deputy President Pro Tempore

Working Together to Solve Problems

STATEMENT OF SEN. CABRERA ON TODAY’S INSURANCE DEPARTMENT PUBLIC HEARING ON PROPOSED INDIVIDUAL AND SMALL GROUP INSURANCE RATES FOR 2025