You might be thinking, based on what insurance company CEOs have been saying over the past few weeks, that carriers are awash in red ink because of Obamacare and would surely go bust if they had to keep paying the medical claims of their Obamacare customers for even one more year. You might even be shedding a tear or two for their poor shareholders.
The proposed mergers of insurance giants Anthem/Cigna and Aetna/Humana are likely to have a negative impact on both the cost and quality of care in Connecticut. Mergers are usually justified by claims of increased efficiency and opportunity for innovation, but based on past experience those results are rarely delivered. In fact, such a major consolidation would permanently change our state’s health care system for patients, physicians and other stakeholders.
Thinly veiled threats from hundred billion-dollar corporations that the proposed state tax increases are “truly discouraging”’ and that General Electric would “seriously consider whether it makes any sense to continue to remain in Connecticut” are not to be ignored. We the people have a choice before us — one that requires us to choose the economic principles fundamental to the type of society we desire to create and live in.
Connecticut already places and insurmountable tax burden upon our residents. To ask any more is unconscionable. All of my Republican colleagues, and even 11 Democrat legislators, shared this sentiment when we voted against the Democrat-proposed tax hike. Unfortunately, this was not enough to steer the State of Connecticut off its self-destructive path.