Report: Employers' health insurance costs up 8 percent

Utah’s Employers Council has released the findings of its annual Utah Health and Welfare Plans Survey that shows that Utah employers experienced an 8 percent increase in health insurance plan costs at their last renewal after negotiations and plan changes. The study reported that the average monthly premium for employee-only coverage of all types of plans is $513.

The Employers Council report said that employers pay an average of 82 percent of the cost of health insurance for employee-only coverage. Employers average a $574 contribution to health savings accounts when annually when employees are enrolled. Of those responding to the council’s survey, 58 percent offer a wellness program. Of those organizations, 59 percent provide employees a reduction in their health coverage premium as an incentive to participate in the wellness program.

{mprestriction ids="1,3"}“Overall, the survey reveals valuable data to help Utah employers determine how their benefit offerings compare to the marketplace. This data, along with data from our other surveys, enables employers to make strategic decisions with certainty and accuracy,” said Ryan D. Nelson, Utah president of Employers Council. “Employers Council strives to provide the most current, relevant and helpful information to employers in Utah. We pride ourselves on the quality and breadth of our full collection of survey reports, and offer the most comprehensive data specific to Utah.” 

The survey’s data is segregated by private, public and non-profit sectors for health, dental, life, short-term disability and long-term disability insurance. The survey also includes monthly premium amounts for health and dental insurance, cost sharing for those insured benefits, as well as retirement benefits, short- and long-term disability and part-time employee insured benefits. The survey includes responses from 76 Utah organizations. Data breakouts include company size, geographic area and industry type. The full report is available at the council’s website, www.employerscouncil.com.

Employers Council provides human resource and employment law services for the business community. It regularly conducts community and industry roundtables to determine survey needs, and holds annual briefing sessions to assist employers in understanding and applying survey data in the workplace. It serves more than 4,500 employers with 70 human resource, organizational development and survey professionals and 60 staff attorneys out of offices in Salt Lake City; Scottsdale, Arizona; and Denver, Colorado Springs, Loveland and Grand Junction, Colorado.{/mprestriction}