The average Utah premium for healthcare insurance for a single employee has risen 16 percent since 2016 to $567 per month, according to a new survey conducted by the Employers Council. The employee-only premium is an average of all types of plans, including health maintenance organizations, preferred provider organizations, point-of-service plans (POS) and high-deductible health plans (HDHP), along with traditional insurance programs.{mprestriction ids="1,3"}
The “2019 Utah Health, Welfare & Plans Survey” includes data segregated by private, public and nonprofit sectors for health, dental, life, short-term disability and long-term disability insurance. The council said that the study is designed to help Utah employers determine how their benefit offerings compare to the marketplace.
“Overall, the survey reveals that Utah employers continue to see increasing costs to their health insurance plans,” said Ryan D. Nelson, president of Employers Council’s Utah office. “The survey reveals valuable data to help Utah employers determine how their benefit offerings compare to the marketplace. This data enables employers to make strategic decisions with certainty and accuracy.”
Other key findings from the survey include:
• The average percentage of health coverage paid by employers is 80 percent for single (employee-only) coverage, no change since last year.
• The average employer contribution to an employee’s health saving account when enrolled in a single (employee-only) high-deductible health plan is $633 per year, up $18 since last year.
• 95 percent of respondents offer incentives for employees to participate in wellness programs.
• 79 percent of Utah respondents offer a PPO plan and 83 percent offer a HDHP.
The survey also includes monthly premium amounts for health and dental insurance, cost sharing for those insured benefits, as well as retirement benefits and part-time employee insurance benefits. The survey includes responses from 76 Utah organizations. Data breakouts include company size, geographic area and industry type. The full survey can be seen at www.employerscouncil.org.
“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,” said Nelson.{/mprestriction}
