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Insure Oklahoma/O-EPIC Employer-Sponsored Insurance
The Insure Oklahoma/O-EPIC Employer-Sponsored Insurance will pay part of the health plan premiums for eligible employees working for qualified Oklahoma small businesses (with 50 or fewer full-time employees). Participation in this program is
voluntary.
What can Insure Oklahoma/O-EPIC do for my business?
Employers who participate in Insure Oklahoma save on health insurance premiums for their eligible workers.
An example of how the the Insure Oklahoma/O-EPIC program could work for your business
Employee has a family of four: husband, wife, two children (children may be covered under the SoonerCare program).
The employer receives the Employee eligible letter indicating:
Applicant Name: John Smith
Health Plan Choice: H00000 Oklahoma Care
Spouse Name: Mary Smith
Health Plan Choice: H00000 Oklahoma Care
Effective on 11/01/2007 through 10/31/2008
Employee Premium Share Amount: $ 92.50
Employer Premium Share Amount: $ 105.00
State / Federal Subsidy Amount: $ 672.00
This example assumes:
Annual household income: $37,000
Oklahoma Care monthly premiums are: $420 for the employee, $450 for the spouse / $870 for employee & spouse.
Insure Oklahoma will calculate the following:
| Payer |
Employee |
Spouse |
Total |
|
Employer (25%) |
$105.00 |
$0.00 |
$105.00 |
|
Employee (15%) |
$46.25 |
$46.25 |
$92.50 |
|
Insure Oklahoma (60%) |
$268.75 |
$403.75 |
$672.50 |
| Totals |
$420.00 |
$450.00 |
$870.00 |
The employer share is 25 percent of the employee rate of $420 or $105. The employee share is 15 percent of $870 or $130.50. Since the $130.50 exceeds 3 percent of the employee family income, the employee share is capped at the 3 percent figure or $92.50
The Insure Oklahoma subsidy equals the remaining balance of $672.50.
Are my employee eligible?
View New Income Guidelines effective April 2008
Is my business eligible?
In order to participate in the Insure Oklahoma program for small employers, the business must meet the following eligibility criteria:
- be located in Oklahoma
- have 50 or fewer full time employees
- offer an Insure Oklahoma qualified health plan
If you were able to answer YES to the above:
Complete an Insure Oklahoma / O-EPIC application packet and send it to us so we can approve you for the program.
If you do not offer an Insure Oklahoma qualified health plan and want to find out more about health plan options, you can contact us or you can call us toll free at (866) 473-2866 and we can assist you.
What to Expect
- Upon approval, the employer will receive application information for their employees.
- Employees must then apply and be approved.
- Employer must send the monthly health plan invoice to Insure Oklahoma.
- Insure Oklahoma will pay the premium subsidy to the employer monthly.
- Employer remits full payment to the insurance company.
SeatonInsurance.com
10600 South Penn Ave
Suite 16 #104
Oklahoma City, OK 73170
OKC Area 405-793-7892
Toll-Free 866-473-2866
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