The Oklahoma State and Education Employees Group Insurance Board (OSEEGIB) today adopted an approximate 4% increase in health insurance premium rates for its HealthChoice Medicare Supplement Plans. The 2010 rates, which are effective January 1, are for Medicare eligible former employees.

For each primary member or covered dependent, the 2010 monthly rate for the High Option Plan With Part D will be $289.42. The new monthly premium is about $10 higher than the 2009 premium. The rates for the Low Option Plan With Part D will be $236.10 which represents an increase of approximately $13 per month.

Commenting on the increase, Board Chairman Richard Womack of Bristow said, “By increasing pharmacy copays and slightly changing the plan structure, the Board was able to minimize the increase.” He further commented, “Although any increase in premiums for our members is regrettable, we are fortunate that the medical and pharmacy trends for our Medicare population have remained very stable so far this year.”

OSEEGIB provides group health, dental, life, and disability insurance to over 180,000 public sector employees and retirees of state, education and local government employers and other not-for-profit entities.

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