This bill amends Section 1370 of the Oklahoma Statutes regarding the flexible benefits allowance for state employees. It modifies the benefit allowance structure, ensuring that participants who opt out of the state's basic plan and provide proof of alternative coverage will receive a monthly allowance of $150. The bill also establishes that the flexible benefit allowance credited to each participant will be communicated prior to the enrollment period for each plan year. Additionally, it specifies that the benefit allowance will not be less than the amounts from the previous plan year and outlines a formula for determining the allowance based on various health insurance premiums.

Key changes include the deletion of specific years (2022 and 2023) and the insertion of new language that extends the two percent annual increase in benefit allowance to each subsequent year after 2027. The bill also clarifies that employees who are eligible TRICARE beneficiaries may purchase a group TRICARE Supplemental product under a qualifying cafeteria plan, with the state providing only administrative support. The act is set to take effect on November 1, 2026.

Statutes affected:
Introduced: 74-1370