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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JUNE 30, 1999
OXFORD HEALTH PLANS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-19442 06-1118515
(State or other jurisdiction) (Commission (IRS Employer
of incorporation) File Number) Identification No.)
800 Connecticut Avenue, Norwalk, Connecticut 06854
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(Address of principal executive offices) (Zip Code)
(203) 852-1442
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(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS.
Registrant's Press Release, dated June 30, 1999, is attached as an
Exhibit hereto and incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
(99) Press Release dated June 30, 1999
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
OXFORD HEALTH PLANS, INC.
Date: July 1, 1999 By: /s/ YON. Y. JORDEN
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YON Y. JORDEN
Chief Financial Officer
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OXFORD HEALTH PLANS, INC. AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit Page
Number Description of Document Number
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(99) Press Release dated June 30, 1999 5
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EXHIBIT (99)
OXFORD LETTERHEAD
CONTACT: MARIA GORDON SHYDLO
OXFORD HEALTH PLANS
(203) 851-1180
RICHARD WOOL
HILL & KNOWLTON
(212) 885-0523
OXFORD ANNOUNCES YEAR 2000 MEDICARE+CHOICE PLAN
- COMPANY TO EXIT SUFFOLK COUNTY -
- OXFORD TO STAY IN 20 COUNTIES -
NORWALK, CONN. (June 30, 1999) - Oxford Health Plans, Inc., today announced its
Medicare plans for the year 2000. The Oxford Medicare AdvantageSM plan will be
discontinued in Suffolk County, effective January 1, 2000. Oxford will remain in
the 20 other counties in the tri-state area where it already provides benefits.
Later this summer, Oxford will release benefit adjustments, following approval
by the Health Care Financing Administration (HCFA).
Oxford, along with North Shore-Long Island Jewish (NSLIJ) Health System,
determined that the current Medicare environment did not allow them to continue
to offer the Oxford Medicare Advantage plan to eligible individuals in Suffolk
County as an alternative to Medicare fee-for-service. Over the next few months,
Oxford and NSLIJ will work cooperatively to ensure that Oxford's Medicare
members in Suffolk County are transitioned as smoothly as possible and providers
are aware of all of these changes.
"In an environment of decreasing federal reimbursement and increasing health
care costs, Oxford and NSLIJ have been forced to make this difficult decision
affecting members who reside in Suffolk County," said Peter Haytaian, corporate
director, government programs at Oxford.
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OXFORD ANNOUNCES YEAR 2000 MEDICARE PLANS - PAGE TWO
Oxford's service area in year 2000 will consist of 20 counties in New York, New
Jersey and Connecticut, currently providing coverage for more than 100,000
members or approximately 90 percent of its existing Medicare population. In New
York, Oxford will continue to offer the Oxford Medicare Advantage Plan in six
counties: Bronx, Kings, Nassau, New York, Queens and Richmond. In New Jersey,
the plan will be offered in 13 counties: Bergen, Burlington, Camden, Essex,
Hudson, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset and Union.
In Connecticut, Oxford will continue to offer Oxford Medicare Advantage in New
Haven County.
Founded in 1984, Oxford Health Plans, Inc. (www.oxhp.com) provides health plans
to employers in New York, New Jersey and Connecticut, through its sales force
and through independent insurance agents and brokers. Oxford's services include
traditional health maintenance organizations, point-of-service plans,
third-party administration of employer-funded benefit plans and Medicare+Choice
plans.
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