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Manufacturers in Oklahoma Offer Health Insurance Plans for Employees

Posted on: Tuesday, 16 August 2005, 21:00 CDT

The Central Oklahoma Manufacturers Association in cooperation with Bankers Financial Benefits and Blue Cross and Blue Shield of Oklahoma will offer a new health insurance program.

The association is an affiliate of the Oklahoma Alliance for Manufacturing Excellence.

This type of health insurance program has never been offered to Oklahoma manufacturers as a group, due to the complexity of state and federal regulations, said Bob Carter, an extension agent for the alliance. What we have been able to develop is a program within state and federal guidelines that allows manufacturers the opportunity to extend major medical coverage to their employees at a discount.

The program consists of a core plan providing catastrophic coverage and six optional plans, any two of which can be selected by individual companies.

The core plan features a $35 office visit co-pay, 50/50 on prescriptions, a $2,500 deductible per calendar year and a $200 outpatient co-pay.

The core plan base cost is $165 per month. The optional plans feature annual deductibles ranging from $500 to $1,500; $20 office visit co-pays; and three prescription drug plans.

There are 6,000 manufacturers in Oklahoma with an average of 35 employees for a total of 210,000 employees, according to John Naeher, president of Bankers Financial Benefits. The majority of employees in this pool averages 35 years of age which, from an actuarial point of view, reduces the overall risk and resulting premium, Naeher said.

Companies need a good health care program to attract and retain quality employees, said Sandy Pratt, director of business solutions for the Oklahoma Department of Commerce. This program fills this need for many of our state's small and medium-sized manufacturers. It also will serve as a strong inducement for other manufacturers who are considering moving their operations to Oklahoma.

Manufacturers who comply with Blue Cross and Blue Shield participation guidelines can enroll with no underwriting and no individual health questions, Carter said.

Manufacturers that are covered by Blue Cross and Blue Shield of Oklahoma can switch to this plan.

Source: Journal Record - Oklahoma City

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