On August 22, the Utah Insurance Department released proposed rates for individual and small group health insurance plans that will be offered through the Utah Health Insurance Exchange starting October 1, 2013. Plan coverage will begin January 1, 2014.
Utah Health Insurance Exchange – Individual Plan Carriers
Altius Health Plans, Inc.
Arches Mutual Insurance Company
BridgeSpan Health Company
Humana Medical Plan of Utah, Inc.
Molina Healthcare of Utah Inc.
- SelectHealth Inc.
These six insurers submitted a total of 99 plans that have been recommended to the U.S. Department of Health and Human Services (HHS) by the Utah Insurance Department. HHS will review and finalize the plans.
Utah Health Insurance Exchange – Individual Rates
The following table provides a sample of exchange "silver" individual plan premiums by age and county.
These are premium rates before any individual health insurance tax subsidies are applied. If eligible for the tax subsidies, the actual amount a person would pay would be reduced at the time of purchase. The tax subsidies are available for consumers with income four times the federal poverty line (making up to ~$45,900 for an individual and ~$94,200 for a family of four in 2013). For sample health insurance tax subsidy charts, see this article.
Note: The family rates apply to a family of 2 parents age 40, with 3+ children under 21.
Table source: State of Utah.
Utah Health Insurance Exchange – Small Group Carriers
Utah's SHOP exchange, Avenue H, has three carriers that have filed to offer small group health insurance plans on Avenue H. These providers are:
- Arches Mutual Insurance Company
- SelectHealth Inc.
- United HealthCare of Utah
These three carriers submitted 70 plans that have been approved by the Utah Department of Insurance, and will be reviewed and finalized by HHS.
Utah Health Insurance Exchange – Small Group Rates
The following table provides a sample of the small group plan premiums by age and county, also for "silver" rated plans.
Table source: State of Utah.
In addition to these rate previews, Utah has provided access to a website to look up detailed information on all insurance companies and plans that they will be offering through the exchange. The State of Utah Insurance Transparency allows consumers and brokers to:
Search for information about individual insurance companies
Compare quality measures between different insurance companies
Participate in the rate review process for proposed premium increases
View the latest proposed rate changes
Strengthen your knowledge and understanding of health insurance
What do you think of the Utah Health Insurance Exchange rates for individual and small group plans? Join the discussion by leaving a comment below.
