The state will partner with four nonprofit health foundations to fund a study that will recommend ways to reduce healthcare costs. The report will examine how other states are working to reduce the cost of care and will make recommendations that address the rising cost of care in Connecticut.
The Connecticut Health Foundation, the Universal Health Care Foundation of Connecticut, the Foundation for Community Health, and The Patrick and Catherine Weldon Donaghue Medical Research Foundation will provide a total of $190,000 towards the $363,450 study, which is mandated by legislation passed last year to establish a more competitive healthcare market.
Connecticut Health Foundation President and CEO Patricia Baker said in a statement her foundation asks state leaders to remain open to what the findings and recommendations of this study may suggest. “There is much to learn from other states that could be locally adapted to the benefit of the state budget and consumers struggling to afford needed care,” she said.
Lt. Governor Nancy Wyman said, “Connecticut is a national leader on the implementation of the Affordable Care Act—more than 700,000 residents have healthcare through our state marketplace. But, the high cost of care presents a very real barrier and can hinder access to care.”
The Connecticut Health Foundation will provide the bulk of the money with a $125,000 donation towards the study. The Universal Health Care Foundation and the Foundation for Community Health will each provide $25,000 in funding. The Patrick and Catherine Weldon Donaghue Medical Research Foundation will provide $15,000 in funding.
