05/14/2024
Treasurer Erick Russell Announces Partnership With Community Health Centers to Raise Awareness of CT Baby Bonds
HARTFORD, Connecticut – Treasurer Erick Russell and the Community Health Center Association of Connecticut announced a new collaboration on Tuesday to support the state’s first-in-the-nation CT Baby Bonds program. Providers at the 16 member health centers, with hundreds of locations across the state, will begin discussing the program with families of eligible participants and distributing related printed materials.
The announcement was made at Wheeler Health in Hartford along with Governor Ned Lamont, Hartford Mayor Arunan Arulampalam and members of Hartford’s legislative delegation.
“This partnership will help families of eligible participants learn more about CT Baby Bonds through trusted medical providers on the ground in the community,” said Treasurer Russell. “This is a critical piece of the long-term awareness necessary to sustain engagement as these children grow up. It’s no surprise that Community Health Centers across the state are stepping up to help serve their patients and their families. Poverty has tremendous public health ramifications that these providers encounter on a daily basis. I’m extremely grateful for their partnership and eager to build similar support systems with other service organizations. CT Baby Bonds has the potential to combat systemic poverty and increase economic participation. It will take a united and coordinated effort to maximize this opportunity.”
“The Baby Bonds program was created to help break the cycle of intergenerational poverty by investing startup capital that can be used to change young people's lives as they become adults,” said Governor Lamont. “Partnerships with community organizations like our local health centers will help make sure that families receive the information they need so their children can benefit from this program and build a stronger future.”
“So many of our children grow up without the luxury of a safety net or additional support when it’s time for them to take a critical next step in their lives, whether it’s pursuing higher education, buying a home, or starting a business,” said Mayor Arulampalam. “Baby Bonds are a move in the right direction, and I'm grateful for Treasurer Russell’s efforts in partnership with community health centers to ensure Hartford children are set up for success.”
All Connecticut children born on or after July 1, 2023, whose birth was covered by HUSKY are automatically eligible for CT Baby Bonds. There is no need to enroll or apply. As of April 1, approximately 13,300 eligible babies have been born, according to data from the Department of Social Services. Each participant will have $3,200 invested on their behalf through a trust managed and invested by the Office of the Treasurer.
That amount will grow over time along with each child. Between the ages of 18 and 30, claims can be filed to use the funds for purposes designed to combat generational poverty and build individual wealth. Those include buying a home in Connecticut, starting or investing in a Connecticut business, paying for post-secondary education or job training, or saving for retirement.
“CT’s Community Health Centers are pleased to partner with Treasurer Russell to spread awareness of the Baby Bonds program, a pioneering initiative to help provide hope and opportunity to CT’s children,” said Shawn K. Frick, Chief Executive Officer Community Health Center Association of Connecticut. “Health centers provide primary medical, behavioral health, and dental care to over 420,000 people in CT - including thousands of children who already have Baby Bonds in their name! Our health center staff are excited to share information about Baby Bonds with kids and their families.”
The Office of the Treasurer has begun interactive informational training sessions for Community Health Center providers and staff and will continue to offer support as needed. Providers will be disseminating information about the program in both English and Spanish with additional languages to be added.
"Every day, community providers like Wheeler see how systemic poverty affects the health outcomes of so many people we serve," said Sabrina Trocchi, PhD, MPA, President and CEO of Wheeler Health. "Our work ultimately is to provide hope for a better tomorrow, and Baby Bonds are an innovative approach to do just that."
A host of research has shown the negative health impacts of poverty, which is linked to higher rates of infectious disease, mental health conditions, maternal mortality, and more. Additionally, those in poverty face greater barriers to accessing care, leading to delayed diagnosis and treatment.
For more information about CT Baby Bonds, and to sign up for periodic updates about the program, please visit babybonds.ct.gov.
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Contact: Tyler Van Buren
tyler.vanburen@ct.gov | (959) 529-2468