AN ACT CONCERNING SELF-FUNDED MULTIPLE EMPLOYER WELFARE ARRANGEMENTS AND REQUIRING A STUDY OF THE FEASIBILITY OF ESTABLISHING THE CONNECTICUT OPTION PROGRAM.

HB 5378 requires a study to determine if Connecticut can establish a state-run health insurance program (the "Connecticut Option Program") that would allow multiple employers to pool health coverage. The bill also updates definitions related to self-funded health plans shared by multiple employers (known as multiple employer welfare arrangements, or MEWAs) and other insurance terms. It does not create new programs but mandates a feasibility study by the state's insurance department. The study will examine whether such a program could provide affordable coverage options for employers and employees. This bill directly affects employers using self-funded health plans and future participants in the Connecticut Option Program, if established.