On July 25, Yale New Haven Hospital hosted a press conference to raise awareness about a state program that sets aside money for each baby born in Connecticut whose birth was covered by HUSKY.
Hospital, state and community leaders spoke at the press conference about how the CT Baby Bonds program will help children by providing funds when they become adults.
The program works like this: For every baby whose birth is covered by HUSKY Health (the state’s public health coverage program), $3,200 is automatically deposited into the CT Baby Bond Trust and invested by the state Office of the Treasurer. When a participating child reaches adulthood (between ages 18 and 30), they can make a claim for the funds and use them to start or invest in a Connecticut business, buy a home in Connecticut, pay for higher education or save for retirement. Babies in every town and city across the state qualify for the program.
CT Baby Bonds is designed to narrow the wealth gap and spur long-term economic growth for Connecticut’s families and economy, according to State Treasurer Erick Russell. An estimated 15,000 children each year are born into poverty.
Along with Russell, baby Eva, one of the first Baby Bonds recipients, made a special appearance at the press conference with her mother, Hana Feldman. Other attendees included Congresswoman Rosa DeLauro; New Haven Mayor Justin Elicker; State Senate President Martin Looney; Yale New Haven Health Executive Vice President and Executive Director of Yale New Haven Children’s Hospital Cynthia Sparer; and Greater New Haven Community Foundation President Will Ginsberg, who is also a member of the YNHH Board of Trustees.
