TRUMBULL, Conn., May 10 /PRNewswire-FirstCall/ -- Oxford Health Plans, Inc. , today announced that it will increase its Medicare coverage area to include counties in northern and central New Jersey and the lower Hudson Valley in New York. Pending approval from the Centers for Medicare & Medicaid Services (CMS), the company will begin offering Medicare Advantage plans, known as Oxford Medicare Advantage (OMA), for July 1, 2004 enrollment.
“As we continue to review the Medicare reform legislation, we are finding more ways to use the additional government funding to expand not only our product offering but our geographic reach. Now Medicare beneficiaries will have more choices and greater access to benefit plans with zero premiums, rich benefits such as pharmacy coverage, and reduced cost sharing,” said Charles G. Berg, president and chief executive officer of Oxford.
“The Medicare law created more predictable and stable pricing in many parts of New Jersey and New York by requiring that the county reimbursement to health plans be at least equivalent to the actual Medicare healthcare costs in the county, and a commitment to maintain those levels must be kept. This will encourage health plans to increase their participation in the Medicare Advantage program, therefore bringing much-needed stability to the program overall,” he continued.
In New Jersey, Oxford will offer OMA plans in the following eight counties -- Bergen, Essex, Mercer, Middlesex, Monmouth, Passaic, Ocean and Union -- in addition to Hudson County where Oxford already provides service. It also will begin offering OMA products in Orange and Rockland counties in New York, in addition to the five boroughs of New York City, and maintain coverage in New Haven County in Connecticut.
“We will continue to work with regulators, community leaders and providers to offer more options for our current OMA members and further evaluate additional geographies to expand our reach in 2005 so new Medicare beneficiaries can experience OMA products and services,” added Peter D. Haytaian, vice president, government programs at Oxford. “Providing greater choice and flexibility in accessing the healthcare system for our seniors isn’t just good business, it is the right thing to do.”
Oxford will offer a variety of plans in the new counties, offering a range of benefits, including prescription drugs, vision, dental, hearing and other services, some with no additional plan premiums. For a complete list of OMA plans being offered in these areas, please visit Oxford’s Medicare Advantage page on its website at: https://www.oxhp.com/oxford_medicare_advantage/html/doma_bsc.html.
Earlier this year, Oxford had increased benefits in seven counties in New York, New Jersey and Connecticut, where it was already providing coverage. These benefit enhancements included increased prescription drug coverage and reduced cost sharing for OMA members. As of March 31, 2004, Oxford was covering more than 70,000 Medicare-eligible individuals.
Oxford Medicare members who want to join another Medicare Advantage program or return to the Medicare program can call the Medicare Choice Helpline at 800-MEDICARE/800-633-4227 (TDD/TTY: 877-486-2048). Additionally, Oxford members may call Oxford Medicare Advantage’s Member Services Department at 800-234-1228 (TTY/TDD: 800-201-4874), Monday through Friday from 8 a.m. to 6 p.m.
Founded in 1984, Oxford Health Plans, Inc. provides health plans to employers and individuals in New York, New Jersey and Connecticut, 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
Oxford Health Plans, Inc.
CONTACT: Maria Gordon Shydlo of Oxford Health Plans, Inc.,+1-203-459-7674, mshydlo@oxfordhealth.com
Web site: http://www.oxfordhealth.com/
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