Lt. Gov. Wyman: Access Health CT Becomes First Exchange in Nation to Adopt Self-Sustaining Budget
(Hartford, CT) - Lieutenant Governor Nancy Wyman, Chair of the Board of Directors of Access Health CT (AHCT), and AHCT CEO Jim Wadleigh announced that next year Connecticut will have the first self-sustaining state healthcare exchange in the country. Today, at their monthly meeting, the AHCT Board adopted an operations budget that relies exclusively on revenue generated by the organization.
"Affordable, accessible healthcare is fundamental to a strong workforce, a growing economy, and thriving communities in Connecticut and throughout the country," said Lt. Governor Wyman. "Our leadership on healthcare has directly improved the lives of hundreds of thousands of our residents and serves as a model for other states to create effective, self-sustaining systems. I applaud Jim Wadleigh and the Access Health CT team for their work and their commitment to affordable, accessible healthcare."
"Since the launch of Access Health CT just 19 months ago, we've cut Connecticut's uninsured rate in half, helping thousands who previously did not have health care obtain much needed coverage. In doing so, Connecticut's health exchange has become a national leader, with several states working with us to learn from the success of our model, and for that we should be proud," said Governor Malloy. "There's often a lot of talk about numbers and data, but at the end of the day, this is really about improving the quality of life for the people of our state. The Affordable Care Act is making a difference in people's lives."
During its first year, AHCT operated solely on federal dollars allocated under the Affordable Care Act. In 2014, the state's healthcare marketplace budget included federal funds as well as carrier assessments. The AHCT Board voted today to raise carrier assessments to make the organization completely self-sustaining in future years.
"We now have a budget that covers all our day-to-day operating expenses under the current assessment allocation," said CEO Wadleigh. "For the typical consumer, this increase amounts to about six cents per day, but ultimately our goal is to become completely self-sustaining, without any carrier assessments."
AHCT is the first state-run exchange in the country to adopt a self-sustaining budget.
About Access Health CT
Access Health CT (AHCT), Connecticut's official health insurance marketplace, is a quasi-public agency created by the Connecticut legislature in 2011 to satisfy requirements of the federal Affordable Care Act. AHCT's mission is to increase the number of insured residents in Connecticut, promote health, lower costs, and eliminate health disparities. Connecticut residents and small business owners can compare and enroll in health care coverage and apply for tax credits for individuals through AHCT. AHCT (or the Marketplace) also coordinates eligibility and enrollment with state Medicaid and Children's Health Insurance Programs. For more information, please visit www.AccessHealthCT.com, like us on Facebook at www.facebook.com/AccessHealthCT and follow us on Twitter @AccessHealthCT.
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Office of Lieutenant Governor Nancy Wyman