Okla. Stat. tit. 63, § 63-5024
This is the official text of Okla. Stat. tit. 63, § 63-5024, part of Oklahoma’s Stat. tit. 63, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 63,." Browse the sections below, each linked to its official government source.
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Incorporated physician providers – Income deferral
Official statutory text
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.
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.
Status: in_force · Read it on the official government site
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