HB 2316 Summary

• Creates the "Oklahoma Employee Injury Benefit Act" allowing employers to voluntarily opt out of workers' compensation insurance by adopting a qualified benefit plan

• Requires qualified employers to provide minimum benefits including $100,000 medical coverage, 80% wage replacement for 104 weeks (capped at state average weekly wage), and $200,000 combined maximum with death and dismemberment benefits

• Mandates qualified employers obtain accidental death/dismemberment insurance (AM Best Rating A- or better) and surety bonds to protect employees from employer insolvency

• Establishes exclusive remedy protection for qualified employers similar to workers' compensation immunity, but allows intentional tort claims requiring willful, deliberate conduct with specific intent to injure

• Effective date: November 1, 2012