Tag: Governor Dannel Malloy

Insurance industry praises proposed change to Connecticut tax plan

S.Vagus
Connecticut Governor Dannel Malloy

Revised tax plan could reduce financial strain on insurance companies Insurance companies in Connecticut are praising a proposed tax change that could result in some financial breathing room. Governor Dannel Malloy and several other lawmakers have proposed a significant change to a tax plan that would have placed the insurance industry under greater financial pressure. The tax plan does not target the industry specifically, but it would have an impact on insurers as the tax plan has to do with data processing. Original tax plan had called for an increase…

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Connecticut families could lose their health insurance coverage

S.Vagus
Connecticut health Insurance

Proposed budgets makes cuts to the state’s Medicaid program Proposed cuts to Connecticut’s Medicaid program could mean that many people will lose their health insurance coverage. Governor Dannel Malloy has proposed the state’s budget for 2016-2017, which includes changes to Medicaid’s eligibility. The changes would specifically affect the state’s HUSKY A insurance plan, which covers approximately 34,000 people throughout the state. According to an analysis from the Connecticut Health Foundation, the proposed changes would cause many people to drop their health insurance coverage. Families may lose their Medicaid eligibility due…

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Connecticut laws provide insurance regulators with more authority

Nordstrom
Connecticut health Insurance

Two laws win the favor of state’s Insurance Commissioner Two new laws have successfully passed the Connecticut Legislature, winning praise from the state’s Insurance Commissioner, Thomas Leonardi. Two legislations, which were signed into law by Governor Dannel Malloy this week, aim to bring more oversight to global insurance companies that operate in the U.S. and overseas. The laws are also meant to make Connecticut a more attractive venue for international reinsurance companies who wish to do business in the U.S. Commissioner Leonardi believes that the new laws signal major progress…

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Connecticut seeks to reclaim its top ranking in terms of insurance by bringing in more captive groups

Nordstrom

Connecticut is looking to re-establish itself as the insurance capital of the nation. Legislators are currently working on a plan to encouraging more companies that specialize in captive insurance to come to the state. Captive insurance is a form of self-insurance used often in the insurance industry. Captives are typically spin-off insurance groups that provide coverage for their parent company. This allows large insurers to take more risks and explore new investment ventures. They would also bring more jobs to the state and could help bolster the economy. According to…

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Connecticut health insurance exchange board comes under fire for being unfriendly to consumers

Connecticut’s plans for a health insurance exchange have hit turbulent waters. The state, which has supported the concept of an exchange program thus far, has unveiled the remaining members that will be overseeing the exchange program. Consumer groups had held on to hope that pro-consumer individuals would be added to the group of overseers as none had been included in the previous appointments made by Governor Dannel Malloy earlier in the year. Now, however, consumer groups have voiced their opposition of the latest appointments, saying that consumer interests are not…

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