OK HB2155

Creates the Oklahoma Employee Injury Benefit Act allowing employers with 50+ employees and either a workers' compensation experience modifier greater than 1.0 or over $50,000 in annual incurred claims to voluntarily opt out of workers' compensation coverage.

Qualifying employers must establish a written benefit plan providing at least 100% medical coverage, 80% wage replacement for up to 156 weeks, permanent disability benefits, and death benefits up to $200,000 or 10 times annual earnings.

Requires qualified employers to obtain accident insurance ($300,000 minimum medical coverage), surety bonds, or other approved security; pay $2,500 annual fee to Insurance Commissioner; and notify employees and courts of exempt status.

Provides exclusive remedy protections for qualified employers similar to workers' compensation immunity, except employees may pursue intentional tort claims through courts, mediation, or arbitration as specified in the benefit plan.

Becomes effective November 1, 2012; includes constitutional severability clause ensuring that if any provision is deemed unconstitutional, affected employers must either comply with standard workers' compensation requirements within 90 days or receive workers' compensation protections.