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CHEMICAL MAKES AFFORDABLE HEALTH INSURANCE AVAILABLE TO ITS BUSINESS CUSTOMERS

 NEW YORK, Feb. 1 /PRNewswire/ -- Chemical Bank is making affordable health insurance available to over one million employees of its small and mid-sized business customers through an exclusive arrangement with Oxford Health Plans, Inc.
 "Business customers are telling us that affordable, flexible health benefits for their employees is a top priority, so we negotiated an exclusive package with Oxford that will enable our customers to save money on premiums and offers a guaranteed cap on renewal increases," said Frank Lourenso, Chemical Bank executive vice president.
 Mr. Lourenso noted that tens of thousands of New York-area small businesses, already hit hard by the recession, face a heavy new burden: immediate increases of over 20 percent for employees covered by Empire Blue Cross and Blue Shield. Many small businesses are expected to cut or drop coverage for employees as a result.
 Over 1 million employees of 20,000 companies could potentially benefit from Chemical's arrangement with Oxford Health Plans. Chemical is the market leader in serving small and mid-sized businesses.
 Chemical has arranged employee benefits seminars at which its retirement programs and other employee benefits as well as the Oxford arrangement and health care issues will be discussed. Chemical's customers will also be contacted via direct mail and telemarketing.
 -0- 2/1/93
 /CONTACT: Ken Herz, Chemical Banking Corp., 212-270-4621/
 (CHL)


CO: Chemical Banking Corporation ST: New York IN: FIN SU:

LR-DO -- NY005 -- 1177 02/01/93 09:01 EST
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Publication:PR Newswire
Date:Feb 1, 1993
Words:238
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