Survey finds average monthly premium for single healthcare coverage up $55 since 2017
Salt Lake City, September 18, 2018 – Utah’s Employers Council, a leader in human resource and employment law services for the business community, recently announced the results of its 2018 Utah Health, Welfare & Plans Survey – revealing the average monthly premium for single (employee only) coverage rose $55 since last year, from $513 to $568.
The survey is designed to help Utah employers determine how their benefit offerings compare to the marketplace. The new survey includes valuable data segregated by private, public and non-profit sectors for health, dental, life, short-term disability and long-term disability insurance.
“Overall, the survey reveals that Utah employers experienced an 8 percent increase in their health insurance plans at their last renewal after negotiations and plan changes,” said Ryan D. Nelson, president of Employers Council’s Utah office “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.”
Key findings from the survey included:
- Average monthly premium for single (employee only) coverage all plan types combined (HMO, PPO, POS, HDHP) is $568, up $55 since last year.
- Percentage of health coverage paid by employer is 80 percent for single (employee only) coverage, down 2 percent since last year.
- Average employer contribution to an employee’s HSA account when enrolled in a single (employee only) high deductible health plan is $615 per year, up $41 since last year.
- 61 percent of respondents offer a wellness program. Out of those organizations, 100 percent provide incentives to participate in the wellness program.
- 76 percent of Utah respondents offer a PPO plan and 78 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 64 Utah organizations. Data breakouts include company size, geographic area and industry type.
Employers Council 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. Employers Council surveys are easily accessible online to members and available for purchase now.
For more information on Employers Council and how to become a member, visit www.employerscouncil.org.
ABOUT EMPLOYERS COUNCIL
Employers Council serves more than 4,500 employers, of all sizes and industries, providing the resources needed to build and maintain profitable organizations. Members are assisted by over 70 human resource, organizational development and survey professionals and 60 staff attorneys out of offices in Salt Lake City, Scottsdale, Denver, Colorado Springs, Loveland and Grand Junction. Employers Council provides employment law and human resource services to members facing the everyday challenges of operating a business. Employers Council also provides training to more than 25,000-member employees annually and offers unsurpassed HR survey data. For more information, visit www.employerscouncil.org.