About The Utah Health Exchange - Employer Information

What is the Utah Health Exchange?

The health insurance exchange is an online health insurance marketplace. The idea is that small employers based in Utah can sign their business up for the insurance exchange. Once signed up, their employees can choose a health plans from the participating Utah insurance companies, that fits their family's or their own needs.

What are the Benefits of Using the Utah Health Exchange?

The underwriting system to determine the final rates is unique compared to past methods.

Employees of the same business can select different plans from different companies, allowing consumer control over coverage and price.

Employers have a choice of offering a $0 contribution to their employees, allowing many of Utah's small businesses that haven't offered insurance in the past, to offer insurance.

Employers can offer defined contributions (set dollar amounts, instead of a percentage of the employee's premium).

Employer Contributions

In the past, employers had to pay at least 50% of each of their employees health insurance premiums, if they had a group health plan. Now, employers that are setup through the exchange are allowed to contribute a defined dollar amount to each employee, rather than a percentage.

Because of rising health insurance costs, some employers have decided not to offer health insurance to their employees, or have dropped their plans altogether. The ability to offer a defined contribution allows the employer to still offer health insurance with predictable monthly contributions.

What Insurance Companies Does My Business Have Access to Through the Exchange?

Altius Health Plans

Humana

Regence Blue Cross Blue Shield of Utah

SelectHealth (formerly IHC Health Plans)

United Healthcare

How do I Navigate the Utah Health Exchange?

Find a Utah health insurance agent. The total cost is the same whether you use an agent or not. Some Utah agents have been trained and certified to sell plans through the exchange, while most have not. It's important to have an agent lead your business and your employees through the exchange process. Otherwise, you may find yourself with many questions and no answers. The right agent can make this process easy for you, all at no additional cost.

Connect with an agent who is certified to use the Utah Health Exchange.

More About Employee Plan Selection

The Utah Health Exchange offers 65-80 plans from local Utah insurance companies. This allows your employees to choose the company and plan that is best for them, without being forced into a certain doctor network, insurance company, or plan, like was done in the past. A local agent who has been trained on how the exchange works can sit down with each of your employees and help them decide on the company and plan that's right for them.

As of September 1st, 2010, the Utah Health Exchange will open for small group enrollment (with an effective date of January 1st, 2011). Applications must be submitted by October 1st in order to receive a January 1st, 2011 effective date.

The exchange is working with bSwift in order to provide the administration and quoting for employer sponsored health plans offered through the exchange.

Should I Use a Local, Independent Health Insurance Agent

Yes. It doesn't cost you anything to use an agent whether you go through the exchange or not. Utah insurance agents are paid a commission by the insurance company you choose, for helping you understand your options, servicing your plan, and helping you review your plan on your annual renewals.

Because local agents attend regular meetings for the plans they offer, local agents are familiar with the benefits, pricing, plan options, and the approval process. Using an agent that isn't local can cost you money and cause heartache in the long run.

This is not the official Utah Health Exchange website. HealthInsuranceinUtah is a website that helps Utah residents connect with local agents to find the insurance that is right for them and is providing an informational service about the exchange.