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Biotech / Medical : Oxford Health Plan (OXHP)

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To: Roader who wrote (410)	12/9/1997 6:56:00 PM
From: Thomas Haegin	Read Replies (3) of 2068

Re. $164m charge To All: << NORWALK, Conn., Dec. 9 /PRNewswire/ -- Oxford Health Plans, Inc. (Nasdaq: OXHP) announced today that at the direction of the New York State Insurance Department, Oxford is increasing its medical claim reserves in its New York subsidiaries by $164 million during the 4th quarter. This reserve enhancement is designed to protect policyholders and was required as part of the New York Insurance Department's continuing review and examination of Oxford's financial condition. >> So far, I've got it. << Oxford also intends to increase the medical claim reserves of its non-New York subsidiaries. >> How is this one to be interpreted: Is this announced charge for non-NY subs. already included in the above $164m charge or must we expect another extra charge somewhere down the road? Or could it be that they will simply provide more conservatively for non-NY in the regular course of business going forward? I'm confused. Any thoughts ? Thomas

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