What the Utah Health Exchange Is

The Utah Health Exchange is an online “marketplace” that offers employers and consumers consolidated, competitive access to health insurance.

It lets businesses empower employees to make their own health insurance coverage choices.

• Employers choose how much it will contribute to each employee’s coverage (defined contribution)
• Employees choose their own contribution amount
• Employees shop the Exchange site to select a health plan

Businesses are empowered to offer coverage while controlling costs. And employees access information to make informed health insurance choices.

Employers with two to 50 employees can participate in the Exchange starting with the 2011 plan year. Later, individuals and larger employers will be able to participate. A pilot program for select large employers is underway.

Employer Benefits

Simplified benefits management

Employers choose only how much to contribute to each employee’s health benefit (defined contribution). Choosing which plan to participate in from which insurance company and provider network is up to employees.

Predictable costs

Employers can predict and contain health benefit costs from year to year.

Expanded coverage choices

Employers can offer expanded health plan options—in some cases offering coverage for the first time—and attract and retain better employees.

Preserving tax benefits

Employers give employees the same tax benefits as an employer-sponsored plan and reduce their own FICA obligations.

Employee Benefits

Individual control and choice

Employees—not employers—compare and select the health plan that works best for their individual needs and circumstances.

Paying with pre-tax dollars

Employees pay their contribution with pre-tax dollars. By choosing a qualifying high-deductible health plan (HDHP), they can also contribute pre-tax dollars to a health savings account (HSA) to further reduce their overall tax liability and use pre-tax dollars for qualifying expenses.

Premium aggregation

Employees can aggregate premium contributions from multiple sources, such as the employer, the employee, a second employer, spouse, and so on.

Learn more about the Utah Health Exchange.

Download the HealthEquity® What is the Utah Health Exchange flyer (PDF).