Okla. Stat. tit. 63, § 63-5024: Incorporated physician providers – Income deferral

programs.

A. 1. Effective July 1, 2001, the Oklahoma Health Care

Authority is authorized to offer to eligible contracted incorporated

physician providers, elective income deferral programs which can

result in federal income tax advantages and other advantages to such

providers and their employees. These deferral programs shall take

into account present and future provisions of the United States

Internal Revenue Code which now or in the future might have the

beneficial effect of magnifying the after-tax value payments made by

the state to incorporated physician providers.

2. The Oklahoma Health Care Authority may adopt a plan that

provides for the investment of deferral amounts in life insurance or

annuity contracts which offer a choice of underlying investment

options. Contract-issuing companies shall be limited to companies

that are licensed to do business in this state.

3. As a condition of participation in these income deferral

programs, all participating incorporated physician providers shall

be subject to provisions for forfeiture of benefits for failure to

maintain in force a Medicaid provider agreement and to furnish

services to Medicaid recipients for a specified duration.

B. The Oklahoma Health Care Authority may consult with the

State Treasurer and the Attorney General of the state for advice in

establishing the program.

C. The Oklahoma Health Care Authority Board shall have the

authority to promulgate rules regarding the operation of the

program.