OK HB2774

Amends 74 O.S. 2011, Section 1370 regarding the Oklahoma State Employees Benefits Act to modify the benefit allowance amounts for state employees.

Beginning January 1, 2013, establishes that benefit allowances shall not be less than Plan Year 2012 amounts and sets forth formulas for calculating monthly benefit allowances based on the greater of specified amounts or premiums for health insurance, dental, disability, and life insurance plans.

Modifies the calculation methodology to reference the "HealthChoice High Option plan" instead of previous language regarding "high option health insurance plans, excluding point-of-service plans."

For employees with dependents, provides for additional benefit amounts equal to 75% of the HealthChoice High Option plan costs for spouses and children under specific coverage scenarios.

Declares an emergency, making the act effective upon passage and approval, with July 1, 2012 as the operative effective date.