TRUMBULL, Conn., June 6 /PRNewswire-FirstCall/ --
Oxford Health Plans, Inc. (NYSE: OHP) announces that Norman C. Payson, M.D.,
Chairman and CEO, is scheduled to present at the Goldman Sachs 23rd Annual
Healthcare Conference on Tuesday, June 11, 2002.
Dr. Payson is planning to discuss the Company's more favorable commercial
enrollment trends at that conference. Commenting on the Company's most recent
perspectives on membership Dr. Payson said, "In light of enhanced second
quarter enrollment activity and our more favorable current projections for
July, we now believe Oxford will experience 6% fully insured commercial
enrollment growth in 2002, compared to our prior 4% estimate. The anticipated
growth does not include membership from the MedSpan acquisition."
Oxford Health Plans' presentation is scheduled to begin at approximately
2:40 p.m. Eastern Time. The public is invited to listen to a live webcast of
this presentation over the Internet by visiting the investor relations page of
our website at http://www.oxfordhealth.com.
To listen to this presentation live on the Internet, visit Oxford's Web
site at least 20 minutes early (to download and install any necessary audio
software). The following information will be necessary to access the
presentation:
Username: conference/confd
Password: healthcare
Anyone listening to Oxford's presentation will be presumed to have read
Oxford's Annual Report on Form 10-K for the year ended December 31, 2001 and
Quarterly Report on Form 10-Q for the three months ended March 31,2002,
including the discussion under the caption "Business -- Cautionary Statement
Regarding Forward-Looking Statements".
Founded in 1984, Oxford Health Plans, Inc. provides health plans to
employers and individuals in New York, New Jersey and Connecticut, through its
direct sales force, independent insurance agents and brokers. Oxford's
services include traditional health maintenance organizations,
point-of-service plans, third party administration of employer-funded benefits
plans and Medicare plans.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this press release, including statements concerning
the Company's future fully-insured commercial enrollment growth and other
statements contained herein regarding matters that are not historical facts,
are forward-looking statements as defined in the Securities Exchange Act of
1934; and because such statements involve risks and uncertainties, actual
results may differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause actual results to differ
materially include, but are not limited to:
* Changes in Federal or State regulation relating to health care and
health benefit plans, including proposed patient protection legislation
and mandated benefits.
* The state of the economy.
* The impact of the September 11, 2001 terrorist attacks, subsequent
cases of anthrax infection or exposure, and any future acts of
terrorism or war.
* Rising medical costs or higher utilization of medical services,
including higher out-of-network utilization under point-of-service
plans and new drugs and technologies.
* Competitive pressure on the pricing of the Company's products,
including acceptance of premium rate increases by the Company's
commercial groups.
* Higher than expected administrative costs in operating the Company's
business and the cost and impact on service of changing technologies.
* The ability of the Company to maintain risk transfer and other provider
arrangements and the resolution of existing and future disputes over
the reconciliations and performance under such arrangements.
* Any changes in the Company's estimates of its medical costs and
expected cost trends.
* The impact of future developments in various litigation (including
pending class and derivative actions filed against the Company and
certain of its officers and directors, and other proceedings commenced
against the Company and several employees by certain healthcare
providers), class actions in Connecticut and New York and related
litigation by the Connecticut Attorney General, regulatory proceedings
and other governmental action (including the ongoing examination,
investigation and review of the Company by various Federal and State
authorities).
* The Company's ability to renew existing members and attract new
members.
* The Company's ability to develop processes and systems to support its
operations and any future growth and administer new health care benefit
designs.
* Those factors included in the discussion under the caption
"Business -- Cautionary Statement Regarding Forward-Looking Statements"
in the Company's Annual Report on Form 10-K for the fiscal year ended
December 31, 2001 and on Form 10-Q for the quarter ended
March 31, 2002.
SOURCE Oxford Health Plans, Inc.
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Related links:
http://www.oxfordhealth.com
CONTACT:
Investor Contact, Gary Frazier,
+1-203-459-7331, or Deborah Abraham, +1-914-467-3030, or Media
Contact, Maria Gordon-Shydlo, +1-203-459-7674, all of Oxford
Health Plans
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