Utah Releases Exchange Premium Rates

Six health insurers will offer consumers at least 99 coverage options through Utah's new online marketplace created under the Patient Protection and Affordable Care Act, according to a report from The Salt Lake Tribune.

Tanji Northrup — the state's assistant insurance department commissioner — shared cost data for the new marketplace with state legislators yesterday, according to the report. Costs will vary, with monthly premiums ranging from $173 to $271 for a 40-year-old and $162 to $255 for a 27-year-old in Salt Lake County, according to the report. The average monthly cost of individual health insurance coverage in the state was $173 in 2010, according to the Kaiser Family Foundation.

Ms. Tanji was only able to present average premiums, since some details won't be final until September. Utah is the only state splitting management of the new marketplace with the federal government. The state will run the small business exchange, and HHS will facilitate the individual exchange. HHS is scheduled to release insurance rates next month for the 34 states where the agency will operate exchanges.

Other states such as Montana, Rhode Island, Colorado and Maryland have also released pricing information for their insurance exchanges.

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