Health - Utah Insurance Department

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There are no rate caps. COBRA: Expenses differ between 102% to 150% of group health rates. HIPAA: Premiums will depend on strategy chosen. HIPAA: Repays the full employer-sponsored insurance premium amount by check month-to-month. Pays the insurer directly for individuals on COBRA or eligible small companies. Utah: Average "Single" Premium per Enrolled Staff Member for Employer-Based Medical Insurance, 2011 * Utah % Utah $ US % US $ Worker Contribution 21% $956 21% $1,090 Employer Contribution 79% $3,641 79% $4,132 Total 100% $4,597 100% $5,222 Utah: Average "Household" Premium per Enrolled Staff Member for Employer-Based Medical Insurance, 2011 * Utah % Utah $ United States % US $ Employee Contribution 26% $3,549 26% $3,962 Company Contribution 74% $9,906 74% $11,060 Total 100% $13,455 100% $15,022 Utah: Typical "Employee-Plus-One" Premium per Enrolled Worker for Employer-Based Medical Insurance, 2011 * Utah % Utah $ United States % US $ Employee Contribution 25% $2,419 27% $2,736 Company Contribution 75% $7,134 73% $7,593 Total 100% $9,553 100% $10,329 Utah: Typical Per Individual Month-to-month Premiums in the Person Market, 2010 * Utah $ US $ State Average Premium $173 $215 * Source: Are you ready for health care reform ("ACA") in 2014? Today, employers are more stressed out than ever.

It is time for employers to examine the specifics of health care reform, and start believing strategically vs. mentally.  More Details  is hard. Nevertheless, companies that educate themselves and strategy ahead can avoid serious monetary effects. The more modification and interruption your service can welcome, the more cost savings (for both the company and your workers) you will have the ability to understand over the long term.

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For many small companies, the service to health care reform is basic: Offer a "Company Cost Account" for Healthcare. A brand-new car, called a Healthcare Compensation Strategy (HRP), allows employers to get out of the health insurance company, and merely offer select workers month-to-month allowances to spend on their own health insurance policy in a state health insurance coverage exchange.

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Beginning 2014, individuals will have access to tax subsidies to purchase private medical insurance through the general public exchange. These aids will be for those who enroll in a silver plan through the exchange. The subsidy caps the expense of individual health insurance at 2% - 9. 5% of their household income if their home income is less than 400% above the federal poverty line.