Health Reforms to Lower Premiums in Connecticut

Connecticut, with its long history of legislative amendments has always been game for health insurance reforms. Thus it comes as no surprise that the Affordability Act has some real surprises in store for the residents of Connecticut.

After the new Act is in place, the Connecticut will have access to Federal funding for all low-income populations, despite the age, disability or the family status. Funding will also be provided for National Health Service Corps and Community Health Centres.

But the reforms are not restricted to the government sector alone. Those planning to buy private health insurance plans or those who have already purchased it, need not get disappointed. Here is a look at the reforms in Connecticut.

Tax credits would help 53,900 small business firms provide coverage to their workers and make premiums more affordable. Tax credits would bring the cost as well.

About 2.2 million Connecticut residents will not have to worry about paying huge out-of-pocket expenses when the coverage runs out. This is because there would be no lifetime limits on the coverage.

Another 154000 Connecticut individuals, who have purchased insurance from fraudulent insurance practices, would be protected through the Act. They cannot be dropped by insurance companies when they fall sick.

Tightly regulated annual limits will protect the 2 million residents of Connecticut who have insurance from employers. This will also protect anyone who signs up for a new plan in Connecticut.

Young adults in Connecticut can now stay in the coverage of their parents till they turn 26. Effective from September 23, 2010, the clause will enable about 9050 youngsters to have access to affordable coverage through their parents.

About 47,200 residents of Connecticut, who had retired early, would be able to access to coverage through a $5 billion temporary early retiree program. This program will stabilize coverage and make sure that employers continue to provide coverage to those who have retired early. Companies, unions, local and state governments will be eligible for this program.

Children in Connecticut can no longer be denied health insurance based on pre-existing condition. This provision of insurance will soon be extended to all residents of Connecticut. This will provide insurance to about 807,985 children in Connecticut.

Connecticut residents will also have the freedom to choose their doctors. They also no longer need prior authorization in a case of woman seeing an ob-gyn or in the case of emergency.

The residents will have access to a funding a $50 million dollars to provide health insurance to residents with pre-existing medical conditions. The coverage would be provided through a high-risk pool program. This will be beneficial to almost 38,591 Connecticut residents with pre-existing medical condition. The federal government will run the program for the residents if the Connecticut government chooses not to run it.

The reforms will reduce family health insurance premiums by about $2500 for the same benefits by the year 2016. It will also provide tax credits to about 242,000 Connecticuters so that they can afford quality health insurance.

The Affordable Care Act will put the control of health care decisions in the hands of the Connecticut residents, reduce the cost of health care and give more options for the residents to choose from, due to the increased market competition.

Shaun Mike is an expert on health insurance in Connecticut. He writes frequently about the insurance market in Connecticut which have been published in various online publications