OSEEGIB Adopts Rates for 2011
The Oklahoma State and Education Employees Group Insurance Board (OSEEGIB) has adopted premium rates for its HealthChoice health, dental, life, and disability insurance plans. The Board action took place at its August 20th meeting and will be effective for the 2011 Plan Year.
The adopted premium for the High Option health plan represents an overall increase of 3.8% over current rates. For 2011, the Board is utilizing $16 million in excess reserve dollars to off-set the cost of additional wellness benefits and lower copays.
Copays for primary care visits will be lowered to $30 while the copays for specialist care visits will remain at $50. Enhanced wellness benefits for Network services include 100% coverage of one annual preventive visit for adults with specific associated lab work. Additionally, a well-child visit will no longer require a copay.
Board Chairman Richard Womack said, “With all the changes occurring in the health care industry, the Board is grateful we were able to increase wellness benefits for the High and USA plans without substantially increasing premiums. We were able to keep premium increases to a minimum by using plan reserves to provide the enhanced wellness benefits. The overall premium increase compares very favorably to premium projections nationwide,” he said.
The 2011 HealthChoice High Option plan rates for current and pre-Medicare members and their spouses will increase by approximately 2.5% and 10% respectively.
HealthChoice Basic Plan rates for 2011 will reflect very similar increases from current premiums with an average overall increase of approximately 4.5%.
Premiums for the 2011 HealthChoice Dental Plan will decrease by about 1.5%.
Additionally, premiums for the HealthChoice Life Insurance Plan and HealthChoice Disability Plan will remain unchanged.
The 2011 premium rates were calculated by the Board’s actuary, AON Consulting, based on actual HealthChoice claims experience data for the past 24 months.
OSEEGIB provides health, dental, life and disability insurance for governmental and education employees, retirees and dependents.