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Ark Insurance Solutions named Best Insurance Company for 2022 by Salt City Best

Ark Insurance Solutions Named Best Insurance Company for 2022 By Salt City Best

Ark Insurance Solutions named Best Insurance Company for 2022 by Salt City Best

Today, the Salt Lake Tribune announced the winners of 2022’s Salt City Best Awards. Ark Insurance Solutions received the gold award for Best Insurance Company.

Rebecca Yates, CEO of Ark Insurance, says she is honored to receive the award on behalf of the whole team at Ark. “I’d like to send a heartfelt ‘thank you’ to all of our clients, partners, and associates! Here at Ark, we love helping people get connected to great health insurance, and it’s a wonderful thing to be recognized for doing what we love,” Yates said.

This year, Salt City Best awarded 702 businesses, organizations, and individuals across 304 categories. Winners were selected based on online votes collected between July 27, 2022 and September 9, 2022.

Click here to see Ark’s listing on the Salt City Best site.

Health Insurance Open Enrollment is going on now through January 15, 2023. If you need health insurance coverage or would just like to connect with an agent to review your existing plan, call Ark Insurance today at 801-901-7800.

Health Care Guide For The Self Employed

Self-Employed Professionals and Entrepreneurs: The Guide You Need to Navigate Getting Health Insurance Coverage is Finally Here!

Health Insurance Guide For The Self-Employed

Finding quality, affordable health insurance coverage when you’re self employed can be a real challenge. Divining which plan is right for you, figuring out if you qualify for Affordable Care Act (ACA) Tax Credits, and projecting your modified adjusted gross income — are all just a small part of why getting health insurance coverage can be a Herculean task. That’s why Rebecca Yates, CEO and Founder of Ark Insurance Solutions, created “The Health Insurance Guide For The Self-Employed.” It includes detailed guidance on the top 10 considerations you’ll need to address when looking for health insurance coverage, as well as a glossary to help you make sense of overly confusing insurance terms. To get this FREE guide, click here.

Navigating the complex world of health insurance can be daunting. The Ark Insurance Solutions team has the skill and experience to guide you. We’ll help you compare health plans to make the best decision based on your unique circumstances and budget. Give us a call at 801-901-7800 or click here to schedule an appointment with us.
What are the Silicon Slopes Health Plans?

What are Silicon Slopes Health Plans and What Do They Mean For Your Utah Business?

They could mean great rates on group health insurance, and if the medical loss ratio is low for your company, you might actually get a rebate check from your plan administrator.
What are the Silicon Slopes Health Plans?

If you own a small business, you understand the challenge of finding affordable, quality health insurance coverage for your employees. The Kaiser Family Foundation estimates that businesses with five employees could pay $100,000 in the first year for coverage — not including copays and coinsurance.

Last week, Silicon Slopes, a 501(c)(3) nonprofit organization empowering Utah’s startup and tech community, introduced Silicon Slopes Health Plans. Developed in partnership with University of Utah Health and EMI Health Plans, these plans are partially self-funded, and look to move beyond the transactional approach, where it’s all about paying premiums and claims, to put more focus on the ultimate goal of keeping employees healthy.

So how exactly do these plans work, and how can you know if they’re right for your company?

First, let’s look at a typical “fully insured” health plan. This is the model we’re all familiar with where the employer pays a fixed monthly premium to the health insurance carrier, and in return, the carrier pays all eligible member claims. If the premium collected is greater than the amount of the claims, the carrier gets to keep the excess as profit.

With a partially self-funded health plan, the employer contracts for the assistance of a health insurance carrier or third-party administrator (TPA) to administer all aspects of the health plan. The employer funds the claims payments. Something called “stop loss” insurance pays any catastrophic claims for conditions such as cancer or premature birth. While claims will vary from month to month, the employer reaps the rewards when few claims need to be paid. Any surplus funds can be reserved for future claims.

There are several attractive features of a partially self-funded plan (like the Silicon Slopes plans), including a statistical likelihood that it will cost less.

Other benefits of a Silicon Slopes Health Plan include:

  • As the employer, you can choose whether providers are in IHC network or non-IHC network
  • The plans are administered by University of Utah Health or EMI Health
  • These are “medically-underwritten” plans which means if your staff is very healthy, your company can actually see the benefits through lower rates
  • You’ll be pooled with other like-minded employers
  • You need not be a tech company or a start-up to benefit from this plan
  • You can qualify to participate with as few as two (2) full-time (W2) employees
  • You can sign up your company to participate at any time, with the starting date at the first of the next month

There are some important considerations to take into account when looking at these plans. Ark Insurance Solutions can help. Reach to us today for a no-cost consultation to determine if a Silicon Slopes Health Plan is right for your business.

Navigating the complex world of health insurance can be daunting. The Ark Insurance Solutions team has the skill and experience to guide you. We’ll help you compare health plans to make the best decision based on your unique circumstances and budget. Give us a call at 801-901-7800 or click here to schedule an appointment with us.