ACCESS HEALTH CT SMALL BUSINESS ANNOUNCES 2020 ENROLLMENT GROWTH
Double-digit enrollment growth results, despite initial decline due to COVID-19
HARTFORD, Connecticut—October 1, 2020—Access Health CT (AHCT) Small Business, Connecticut’s official health insurance marketplace for small businesses, recently reported a 21% increase of group health insurance enrollments year-over-year from January of 2019.
This success and growth of small businesses in Connecticut comes despite the initial impact of the COVID-19 pandemic. AHCT Small Business records show that in April 2020, as the COVID-19 pandemic hit, and the State of Connecticut closed non-essential businesses for approximately ten weeks, there was an 11.4% decline in group enrollments and 9.6% of new enrollments that signed on January 1 were lost. Factors contributing to this decline included the cost of coverage during a trying financial time, the closing of businesses throughout the state, an unknown future state of business and employee layoffs and furloughs. By August 2020, AHCT Small Business has increased group enrollments by 17.5%, including 100% re-enrollment of any businesses initially lost and 7% new business growth.
“As we see enrollment increase, it becomes more apparent than ever that health insurance is critical,” said Small Business and Product Development Director, John Carbone. “During the pandemic is not a time to dismiss healthcare coverage. As we move into the health insurance enrollment season, we encourage Connecticut small business owners and brokers to connect with us. Let us be your trusted advisor to navigate which plans are right for you. Health insurance is possible.”
With unemployment rates starting to decrease slowly, people beginning to go back to work and more than 4,000 new businesses being established in Connecticut as of July 1, small business owners and brokers should be aware of the benefits offered by Access Health CT Small Business. These benefits include having one of the lowest-cost group health plans in the marketplace, the flexibility to start coverage any month during the year, various plan options with different insurance carriers, a choice of health and dental plans and prescription drug coverage included in all health insurance plans.
“At Access Health CT, our main mission is to reduce the rate of the uninsured,” said James Michel, Chief Executive Officer of Access Health CT. “We are committed to connecting people to quality and affordable group health insurance, and it is even more imperative to do so during these trying times.”
About Access Health CT
Access Health CT (AHCT), Connecticut’s official health insurance marketplace established in 2011, is a place where individuals, families and businesses can shop, compare and enroll in quality healthcare plans from brand-name insurance companies. It is the only place where people could qualify for financial help to lower costs. AHCT supports health reform efforts at the state and national level and provides Connecticut residents with resources for better health, and an enhanced and more coordinated healthcare experience, resulting in healthier people, healthier communities and a healthier Connecticut. 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 healthcare coverage and apply for tax credits for individuals through AHCT. AHCT (or the Marketplace) also partners with the Dept. of Social Services for eligibility and enrollment with state Medicaid Insurance and Children’s Health Insurance Programs. For more information about individual plans, visit www.AccessHealthCT.com. For more information about small business plans, visit https://accesshealthctsmallbiz.com/. Like us on Facebook at www.facebook.com/AccessHealthCT and follow us on Twitter @AccessHealthCT.
Healthcare is constantly changing, and Connecticut continues to be hit with new requirements, laws and policies. As a former broker myself, I know the challenges you face in finding affordable plans to offer to your customers.
Use this helpful guide to join the Shop Small Movement, safely, and support your local business community.
Use this guide to compare the different plan options, features and benefits to help determine which plan options will work best for your clients.