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"Our goal is not to borrow a single nickel" to finance the approximately $224 million project, Norwalk Hospital President Peter Cordeau says.
“While these hospitals have received direct federal aid during this crisis, some of them and their affiliated practices are still experiencing financial hardship,” noted Gov. Ned Lamont.
The Manufacturing Innovation Fund board has retooled its Manufacturing Voucher Program in order to provide grants of up to $75,000 to companies that adjust production to make in-demand medical equipment.
"We're fighting a war against this virus -- a war that never is won," Gov. Ned Lamont said this morning. Acknowledging that there's a growing outcry "to get back to our everyday lives," he said: "Now is not the time to relax the social distancing."
The state's hospitals have spent between $75 million and $100 million to date for supplies, equipment, training and increasing patient capacity, the Connecticut Hospital Association said.
Gov. Ned Lamont announced an agreement with some 65 credit unions and banks in Connecticut to offer mortgage relief to the state’s residents and businesses who continue to face hardship caused by the global COVID-19 pandemic.
Gov. Ned Lamont said that the state has received "another small delivery" of PPE from the federal government, including 146,000 surgical masks, as well as a promised 50 ventilators, which "we haven't seen yet."
“We’re making a huge investment in technology, staff and education – we’ve had 100 technologies installed in the last six months," the new Bridgeport Hospital chief says.
Soon after the ratification of the hospital agreement came word that a federal appeals court has ruled that the Affordable Care Act’s individual mandate is unconstitutional, in light of the U.S. Congress’ elimination of the tax penalty that was intended to enforce it.
Under the terms of the deal, which must be approved by the General Assembly, hospitals will have a more stable and predictable user fee schedule, with a reduction in the user fee (or "hospital tax") from $900 million to $820 million by FY 2026.
Twenty-four of the state's 28 hospitals finished 2018 in the black, realizing a 5.92% profit margin, down from 2017’s 7.05%.
“We have been in discussions with the state, with a mutual goal of resolving this matter so the legislature could take it up by the end of this month,” according to a statement by the Connecticut Hospital Association.
Kathleen Silard joined Stamford Health in 2003 as executive vice president and chief operating officer and was named president and CEO last year.
The Connecticut Hospital Association maintains the tax has cost its member hospitals billions since it went into effect in 2011.