| OEBB Special Announcements |
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OEBB Selects Carrier to Offer OEBB Optional Benefit Plans
The Oregon Educators Benefit Board (OEBB) announced March 12 at its Board meeting the Apparent Successful Proposer for the Board's new line of optional benefits that include basic (employer-paid) life, optional life, accidental death and dismemberment (AD&D), and short- and long-term disability.
Standard Insurance Company, of Portland, Ore., will provide the optional benefits available to school districts, education service districts, community colleges and charter schools participating in the OEBB benefits program beginning Oct. 1, 2009.
Standard Insurance Company was the highest total scoring proposer of all the bids OEBB received in response to the Request for Proposal issued late 2008.
The Board's decision to offer optional benefits to educational entities beginning Oct. 1, 2009, is estimated to save schools $6.3 million dollars over what they would have paid for comparable benefits during the current plan year. Two-thirds of this savings is realized by the educational entity while the other one third is savings directly passed onto the employees who participate in the plans.
The savings generated through the OEBB optional benefit offerings is about 37 percent over the current plan year, and on top of the nearly $38 million OEBB is saving member districts through the Board's medical, dental and vision benefit plans.
OEBB will release all plan rates for the 2009-10 plan year, including those for medical, dental, vision, life, AD&D and disability plans, by early May 2009. OEBB currently provides medical, dental, pharmacy and vision coverage for more than 145,000 employees, and dependents of employees, in educational entities throughout Oregon.
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