Health Insurance Quotes in Utah & Avenue H Information
Utah residents can get insurance on their own through the Healthcare.gov website or from a private insurance company.
Small business owners can also provide health benefits to their employees. The easiest way to do it is through Avenue H, which is a small business health insurance marketplace for the state of Utah.
Only businesses that have more than 50 employees are mandated to provide insurance for their employees. If they don’t, they face a tax penalty.
However, small businesses with 1 to 50 employees can still provide insurance. They can do so with Avenue H.
Are you a small business owner with less than 50 employees and you’re not sure about how to pick the right insurance for your workers? Contact us, and we can help.
Call our hotline at 1-888-418-8795! Our licensed Affordable Care Act (Obamacare) insurance agent will be more than happy to discuss your options with you.
Call us now for a FREE, no-obligation consultation!
About Avenue H
Avenue H is the online portal through which small businesses in Utah can offer health insurance for their employees. While small businesses with more than 50 employees are required to do so, this online portal allows those businesses with fewer employees to provide health insurance as well.
If you own a business and you have 50 employees or less, just visit http://www.avenueh.com/ to find the right health insurance plan for your employees. Simply provide the necessary business details to get a quote from the health insurance company.
Avenue H has been up and running even before the enactment of the Affordable Care Act (Obamacare). Its main aim since it was established in 2010 is to provide an opportunity for small businesses to get affordable health insurance plans for their employees.
About 14 other states have run their own marketplace place for small business insurance plans for employees. Most of them have reported that fewer than 100 business groups have enrolled through their marketplace.
In Utah, as of September 1, 2015, a total of 690 employer groups have obtained insurance through Avenue H. That number represents 5,495 employees, 8,927 dependents, and a grand total of 14,416 people with insurance.
Obamacare in Utah
Generally, people in Utah have 3 basic ways of getting insurance. They can get their own private insurance, they can take advantage of the insurance provided by their workplace, or they can pick a plan through the ACA marketplace.
Healthcare.gov hosts the state marketplace where Utah residents can get affordable health insurance. The site offers an easy way to find and compare various health care plans that can suit different needs.
There are 4 basic plans:
- Bronze plans. These are the most affordable, but they tend to cover about 60% of the total health care costs.
- Silver plans. The premiums cost a bit more than Bronze but it pays for about 70% of the medical expenses.
- Gold plans. The premiums go up even higher, but this time the coverage is for 80% of the total cost of the health care.
- Platinum plans. These come with the most expensive premiums. However, the coverage is for about 90% of the total expenses.
Utah is well-known for affordable insurance premiums. In 2016, the average premium was just $271 a month. That is the lowest average among the 38 states that had their state health insurance marketplace run by Healthcare.gov.
What’s more, that $271 figure is before subsidies. In Utah, 86% of the exchange enrollees qualified for subsidies. That’s why 76% of Utah residents who buy insurance through Obamacare pay less than $75 a month.
This may be the reason why 145,000 Utah residents signed up for health insurance through the ACA online exchange in 2017. That’s an increase of 24% from 2016 enrolment.
There are also catastrophic plans for those under 30 who have special circumstances that prevent them from affording these plans. These catastrophic plans cost very little per month, but they have very high deductibles. However, they still cover at least 3 primary care visits a year as well as a long list of free preventive health care services.
Why Should a Small Business Provide Health Insurance to Their Workers?
Small businesses with more than 50 employees must provide health insurance for their employees or else it will face a tax penalty. Those with 50 employees or less aren’t required to do so by law, but that doesn’t mean that it’s not a smart decision.
If you’re a small business owner with fewer than 50 employees, you can still receive the following advantages when you do offer insurance to your employees through the workplace:
- You gain tax advantages. It increases the compensation package for your employees, yet your contribution to their health insurance can be tax deductible.
- You gain tax credit. Providing insurance may also lower your taxes.
- You attract more qualified employees. You can lure better job applicants when you inform them that you also offer health insurance to your workers.
- You boost your employees’ morale and loyalty. Employees are more apt to stay with you when you have insurance and your competitors don’t. They also feel that you’re helping them out, so they reciprocate with better work performance and attitudes.
- You help maintain their welfare. Having insurance allows people to take advantage of preventive health services, which can reduce the rate of absenteeism or tardiness.
Of course, you may just offer health insurance in Utah simply because it’s the right thing to do.
Do you wish to provide your employees with health benefits? Visit Avenue H or contact our licensed insurance agents in Utah today.