-- Offers Multiple Plan Designs, Including First Consumer-Driven
Plan in Region --
-- Creates Unique Disease Management Program Through
Proprietary Provider Network --
TRUMBULL, Conn. (May 25, 2004) - Oxford Health Plans, Inc. (NYSE: OHP)
announced today that it is expanding its services into the Lehigh Valley
region of Pennsylvania with the introduction of region-specific plan designs,
including the area's first consumer-driven health plan. The company also has
established a proprietary provider network with more than 3,300 providers and
20 hospitals through its contract with Valley Preferred.
"For many years, employer groups in the Lehigh Valley, particularly small
groups, have had very little choice in health plan designs and very little
flexibility in combating unreasonable year-over-year premium increases," said
Kevin Hill, executive vice president of sales and business development at
Oxford. "We are doing things differently for employer groups here by working
more closely with providers, by offering more innovative plan designs and by
finding ways to say 'yes' to area businesses."
Oxford now offers products and services in the following Pennsylvania
counties: Berks, Bucks, Carbon, Columbia, Dauphin, Lackawanna, Lehigh,
Luzerne, Montgomery, Northampton and Schuylkill.
Offers Multiple Products
Oxford has tailored several of its products to meet the healthcare
coverage needs of employers and employees in the Bethlehem/Allentown region.
Employers can chose from Freedom Plan(R) Valley(SM), a copayment-based plan,
and Freedom Plan(R) Valley Direct(SM), which is a preferred provider
organization (PPO) plan with in- and out-of-network deductibles and
coinsurance. Oxford's Lehigh Valley plans do not require referrals to see
specialists. Oxford is reaching out to employer groups of all sizes,
especially those small group employers with 2-99 employees who were most
impacted by significant 2004 rate increases from competitors in the Lehigh
Valley region.
Additionally, Oxford will offer the first consumer-driven health plan in
the marketplace - Oxford MyPlan Valley(SM), which combines a high deductible,
insured health PPO plan with an employer-funded health reserve account (HRA).
Through Oxford MyPlan Special Services, the company will provide these plan
members with multiple consumer-oriented healthcare education tools and
resources to assist them in utilizing Oxford MyPlan and accessing care wisely.
Oxford currently serves more than 15,000 employer groups and 330,000
members in neighboring New Jersey. The company has approximately 1.4 million
commercial members in New York, New Jersey and Connecticut, while it continues
to add new products and services to increase its membership.
"By providing innovative health plan designs at various price points and
offering a strong stable network of providers, we will be better able to
support our New York and New Jersey employer groups," Hill said. "Our
entrance in to the Lehigh Valley will provide a strong foothold as we continue
to look at growth opportunities here and in adjoining Pennsylvania regions."
Teams with Lehigh Valley Providers on Disease Management
Oxford has contracted with Valley Preferred PPO and the Lehigh Valley
Physician Hospital Organization to provide healthcare services to its members
here. Valley Preferred's network of more than 3,300 providers and 20
hospitals compliments Oxford's existing Freedom Network and contracted
MultiPlan(R) providers, enabling members to access more than 60,000 physicians
and 300 hospitals in Pennsylvania, New Jersey, New York and Connecticut.
"Our programs are an extension of what physicians do for their patients,
by offering provider-based coaching and support and engaging patients in
disease management programs through their physicians," said Jack Lenhart,
M.D., medical director of Valley Preferred. "Oxford recognizes the inherent
value of working closely with the medical community in the Lehigh Valley.
That is why we are excited to team up with Oxford to not only provide care to
all of its members here, but most especially to care for its more chronically
ill members."
In a novel relationship that testifies to the strength of the Valley
Preferred network, Oxford will work directly with Valley Preferred physicians
to administer its disease management program for regional members with such
chronic conditions like diabetes, asthma, congestive heart failure, high
cholesterol and hypertension. Traditionally, Oxford utilizes its own medical
directors or a third-party administrator to manage these members.
"We believe that this collaborative program will become the model for many
of our disease management programs in the future. While we can provide the
data surrounding members and other support services, no one is more effective
than physicians in helping members best manage their health," said Alan M.
Muney, M.D., chief medical officer at Oxford. "Working collaboratively, we
can engage our members to take a more active role in managing their health,
while providing significant medical cost savings."
"Oxford Health Plans is an excellent company and a solid provider of plans
for many coverage levels and budgets," said Gregory Kile, executive director
of Lehigh Valley Physician Hospital Organization, Inc. "This affiliation will
enable Valley Preferred to offer an even greater variety of healthcare plan
choices to businesses throughout our service area."
Eases Administration
In addition to offering competitive plan designs and unique provider-based
care management programs, Oxford will work closely with brokers, employer
groups and physicians to ease the administrative hassles often associated with
health plans, according to Hill. Lehigh Valley employers, brokers and
physicians will have access to Oxford's web-based tools, including
eligibility, provider search and enrollment functionality.
"Lehigh Valley businesses have experienced significant premium rate
increases over the past two years with little or no options to help moderate
these increases," said Tom Huntzinger, broker relationship manager at TRA
Benefits Solutions in Harrisburg, Pa. "Oxford's offerings bring much needed
choice and competition into the marketplace and will have an immediate impact
here."
Oxford has joined the Lehigh Valley Chamber of Commerce and has
participated in its meetings on health insurance financing. The company also
will support a range of community events including the upcoming business
expositions and the 2004 Musikfest in Bethlehem, Pa.
Founded in 1984, Oxford Health Plans, Inc. provides health plans to
employers and individuals in New York, New Jersey, Connecticut and
Pennsylvania, through its independent insurance agents and brokers. Oxford's
commercial insured products and services include traditional health
maintenance organizations (HMOs), preferred and exclusive provider
organizations (PPOs and EPOs, respectively) plans, and consumer-directed
health plans. The company also offers Medicare+Choice plans and third-party
administration of employer-funded benefits.
Oxford Health Plans, Inc. - Cautionary Statement Regarding Forward-Looking
Statements
This press release may contain comments that are considered forward-
looking statements within the meaning of applicable federal securities laws,
which are subject to a number of risks and uncertainties that could cause
actual results to materially differ from those anticipated. A discussion of
those risks and uncertainties is included in the discussion under the caption
"Cautionary Statement Regarding Forward-Looking Statements" in Part I, Item 1,
of the Company's Annual Report on Form 10-K for the fiscal year ended December
31, 2003. 2003, and Part I, Item 2, of the Company's Quarterly Report on Form
10-Q for the quarterly period ended March 31, 2004.
CONTACT: Maria Gordon Shydlo
Oxford Health Plans, Inc.
(203) 459-7674/mshydlo@oxfordhealth.com
SOURCE Oxford Health Plans, Inc.
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