Connecticut is prepared to cover some of the Affordable Care Act subsidies if Congress fails to renew federal subsidies by the end of the year, Governor Ned Lamont said on Thursday.
The U.S. Senate is scheduled to consider extending the federal subsidies for the ACA next week.
Lamont wants Congress to approve the move.
“I’m still hoping that Congress will step forward and take the vote, ostensibly in the next week or so. Otherwise, the state will step in,” Lamont said.
“I can’t make up all the difference, but we will do what we can to protect the most vulnerable,” he said.
The money to cover the subsidies for Connecticut residents would likely come from a $500 million state contingency fund.
The fund was created by state lawmakers in a special session last month to backstop possible federal cuts to safety net programs.
Approximately 151,000 Connecticut residents receive health insurance through the ACA, and about 90% of them receive subsidies to help cover their premiums.
