Utah’s Employers Council, a provider of human resource and employment law services for the business community, has released the results of its 2020 Utah Health, Welfare & Plans Survey. The survey’s major finding was that the average premium for single (employee-only) health insurance coverage increased by $4 per month since last year, to $571.
“Overall, the survey reveals that both Utah employers and their employees continue to see increasing costs to their health insurance plans,” said Ryan D. Nelson, president of Employers Council’s Utah office. “The survey provides 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.”
The survey is designed to help Utah employers determine how their benefit offerings compare to the marketplace, Nelson said. The new survey includes valuable data segregated by private, public and nonprofit sectors for health, dental, life, short-term disability and long-term disability insurance.
Key findings from the survey included:
• The average monthly premium for single (employee-only) coverage all plan types combined (HMO, PPO, POS, HDHP) is $571 — a $4 per month increase since last year.
• The percentage of health coverage paid by employer is 82 percent for single (employee-only) coverage, a 2 percent increase since last year.
• The average employer contribution to an employee’s HSA account when enrolled in a single (employee-only) high-deductible health plan is $915 per year, up $282 since last year.
• 70 percent of survey respondents offer a wellness program.
• 86 percent of Utah respondents offer an HMO/PPO plan and 76 percent 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, STD, LTD, and part-time employee insured benefits. The survey includes responses from 63 Utah organizations. Data breakouts include company size, geographic area and industry type. Full results of the surey are available 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.
