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CompSource Oklahoma Expects Costs Savings Through
Agreement with Blue Cross Blue Shield
CompSource Oklahoma, the state’s largest provider of workers’ compensation
benefits, has entered into an agreement to partner with Blue Cross and Blue
Shield of Oklahoma in order to reduce medical costs for our policyholders.
Savings through this relationship with Blue Cross and Blue Shield should begin
in early 2003. CompSource Oklahoma provides workers’ compensation coverage
for virtually all Oklahoma state government agencies and approximately
26,000 private employers in Oklahoma. CompSource policyholders whose injured
workers are treated by a Blue Cross and Blue Shield network doctor or other
health care provider may benefit in reduced medical costs. Providers in the
Blue Cross and Blue Shield network have agreed to pre-negotiated, discounted
fees for their services resulting in access to discounted services for our
policyholders with no loss of service to injured workers. The agreement
with Blue Cross and Blue Shield will give workers’ compensation patients
covered by CompSource Oklahoma access to the discounted services.
“Escalating medical costs are a major driver within the workers’ compensation
system in Oklahoma and nationwide”, said CompSource Oklahoma President and
Chief Executive Officer Terry McCullar. “The discounts offered through Blue
Cross and Blue Shield’s network help to reduce costs while not sacrificing
health care quality. The Blue Cross and Blue Shield network providers meet
the highest standards for quality.”
“Partnerships between public and private organizations are essential in
controlling rising health care costs,” said Ron King, Chairman, Chief
Executive Officer and President of Blue Cross and Blue Shield of Oklahoma.
“As Oklahoma’s largest private health insurer, we’re pleased to be working
with Oklahoma’s largest workers’ compensation insurer toward our common
goal of high-quality affordable health care.”
CompSource Oklahoma (formerly the State Insurance Fund) was created by
legislation in 1933 to provide an avenue for Oklahoma employers to obtain
workers’ compensation coverage at reasonable rates. CompSource Oklahoma
is a non-profit, self-supporting and self-sustaining agency operating
without state appropriated dollars.
Blue Cross and Blue Shield of Oklahoma, established in 1940, is a member
of the Blue Cross and Blue Shield Association, an association of independent
Blue Cross and Blue Shield Plans.
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