Connecticut Senate Democrats have introduced two bills aimed at lowering healthcare and health insurance costs. These proposals address longstanding affordability concerns that voters voiced during recent elections. Key measures include increased scrutiny on pharmaceutical benefit managers PBMs and efforts to import prescription drugs from Canada.
The goal is to ensure that PBMs, which negotiate drug prices, have a fiduciary responsibility to patients, addressing concerns that many PBMs profit without passing savings to consumers. A recent Federal Trade Commission report revealed that PBMs retained $8.7 billion in savings between 2017 and 2022 without benefiting customers.
Additionally, the bills aim to make it more difficult for health insurers to deny prior authorization requests by requiring them to prove why a denial occurred. Republicans, while open to these ideas, have proposed legislation allowing small businesses to pool insurance purchases and are advocating for greater transparency from the healthcare industry regarding pricing.
The Connecticut Association of Health Plans has raised concerns, warning that these moves could increase costs for the state’s residents. However, the Connecticut Business and Industry Association has praised the efforts, emphasizing that reducing costs for businesses and employees is crucial.
Lawmakers are also focusing on Medicaid issues, including expanding coverage to undocumented immigrants up to age 26 and raising reimbursement rates, despite uncertainties over potential federal funding cuts.
Lawmakers from both parties emphasize the urgency of addressing affordability and ensuring that meaningful progress is made this session.