Posts tagged Portable Benefit Plan
How Utah Is Protecting Workers Without the Baggage of Unions | Opinion
March 28, 2023 // Utah's Portable Benefit Plan is a national breakthrough for independent contractors, establishing a legal pathway for entities to offer fully voluntary benefits plans that self-employed workers can open on their own. Unlike employer-sponsored health plans for traditional employees that are tied to jobs, Utah's self-employed workers instead will soon have access to a variety of new benefits plans that are entirely their own and entirely portable for their evolving careers. The possibilities of products that may be established are broad, including the potential for health insurance, unemployment insurance, and disability insurance related products. There is even a pre-existing financial tool known as a "Utah medical care savings account" that self-employed Utahns may conveniently use to pay for their portable health insurance benefits and medical expenses. Many opponents of independent contracting argue that such workers are exploited and deserve the health care and other benefits that many traditional employees receive.