Survey finds average premium for single healthcare coverage up $4 per month since 2019, Percentage of health coverage paid by employer up 2 percent to 82 percent
Salt Lake City, September 15, 2020 – Utah’s Employers Council, a leader in human resource and employment law services for the business community, recently announced the results of its 2020 Utah Health, Welfare & Plans Survey – revealing the average premium for single (employee only) coverage increased by $4 per month since last year, to $571.
“Overall, the survey reveals that both Utah employers its 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. 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.
Key findings from the survey included:
- 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.
- Percentage of health coverage paid by employer is 82 percent for single (employee only) coverage, a 2 percent increase since last year.
- 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 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.
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.
“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.
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, visitwww.employerscouncil.org.