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Insure Oklahoma: Helping Oklahoma’s Small Businesses Provide For Their Own By Kathy Taylor

For Immediate Release: September 06, 2005

Acquiring and maintaining health insurance for employers and their employees is one of the biggest issues facing small business today. In a time when health care costs are rising at an alarming rate, many employers struggle to offer their employees any benefits at all.

That is why, as Gov. Henry’s small business advocate, I am working diligently with Kim Holland, the State Insurance Commissioner, and the Oklahoma Insurance Department to help small businesses with their insurance related issues.

Oklahoma has already begun finding new and innovative ways to bring small businesses access to affordable health insurance. One such program, Insure Oklahoma (Oklahoma’s Employer/ee Partnership for Insurance Coverage, or O-EPIC), centers on providing premium assistance for healthcare coverage to Oklahoma’s small businesses and low-income individuals. Insure Oklahoma was established during this year’s state legislature under the Oklahoma Health Care Recovery Act. Phase 1 of the program would put affordable health insurance within reach of employers with 25 or fewer workers, including those that offer minimal coverage.

Over 800 small businesses have already inquired about Insure Oklahoma! To be eligible for the program, employers will be required to contribute at least 25% of the premium for those employees who participate. The employee would contribute no more than 15% of their family's premium, but must verify that their household income is no greater than 185% of the federal poverty level.

The Oklahoma Health Care Authority is seeking final approval from the federal government to start Insure Oklahoma as early as the end of this year (2005)! The state plans to devote an average of $50 million per year to the initiative, money that will be generated through the new tobacco tax, which took effect on Jan. 1. Subject to approval by the federal government, the state’s subsidy will be matched each year with approximately $200 million in federal funds. I invite you to visit www.oepic.ok.gov/ for more information about Insure Oklahoma.

This program could potentially open the doors for up to 70,000 Oklahomans who are uninsured or are at risk of losing their insurance because of high premium costs. I am confident Insure Oklahoma will help pump new life into Oklahoma’s small businesses and help our Oklahoma businesses stay strong and expand. And when that happens, we all win.

(Eighth in a series. Click below to read previous articles.)

Oklahoma's Workforce Advantage
Oklahoma Proves it is Pro-Business!
Commerce Helps Women-Owned Businesses
Commerce Helps Small Business Join the Global Conversation
Oklahoma’s Incentives are Great for Small Business!
Small Business Owners Make Your Voice Heard
Here to Help Small Business