EXHIBIT 99(b)

FOR IMMEDIATE RELEASE

  OXFORD HEALTH PLANS, INC. ANNOUNCES INCREASE OF $250 MILLION TO ITS SHARE
             REPURCHASE PROGRAM THURSDAY SEPTEMBER 19, 7:30 AM ET

TRUMBULL, Conn., Sept. 19 -- Oxford Health Plans, Inc. (NYSE: OHP) announced
today that its Board of Directors approved an increase of $250 million to its
existing share repurchase program through December 31, 2003. This increase
brings the Company's remaining repurchase authority to $267 million, after
giving effect to the $28 million of repurchases completed to date in the third
quarter of this year. The Company expects to make open market purchases and
purchases of shares in privately negotiated transactions from time to time
dependent on market conditions as well as other considerations.


"We continue to believe that an efficient use of our excess cash to benefit
shareholders is through share repurchases. Since the beginning of our repurchase
program in August of 2001, we have repurchased almost 16 million common shares.
We believe this current increase in repurchase authority further demonstrates
our views regarding the strength of Oxford's future operating and cash flow
prospects," said Oxford Health Plans' Chief Financial Officer Kurt B. Thompson.


Founded in 1984, Oxford Health Plans, Inc., provides health plans to employers
and individuals in New York, New Jersey and Connecticut, through its direct
sales force, independent insurance agents and brokers. Oxford's services include
traditional health maintenance organizations, point-of-service plans,
third-party administration of employer-funded benefit plans and Medicare plans.


Cautionary Statement Regarding Forward-Looking Statements


Certain statements in this press release, including statements concerning the
Company's future operating prospects, share repurchase program, and other
statements contained herein regarding matters that are not historical facts, are
forward-looking statements as defined in the Securities Exchange Act of 1934;
and because such statements involve risks and uncertainties, actual results may
differ materially from those expressed or implied by such forward-looking
statements. Factors that could cause actual results to differ materially
include, but are not limited to:

         *  Changes in Federal or State regulation relating to health care and
            health benefit plans, including proposed patient protection
            legislation and mandated benefits.

         *  The state of the economy.

         *  The impact of the September 11, 2001 terrorist attacks, subsequent
            cases of anthrax infection or exposure, and any future acts of
            terrorism or war.

         *  Rising medical costs or higher utilization of medical services,
            including higher out-of-network utilization under point-of-service
            plans and new drugs and technologies.

         *  Competitive pressure on the pricing of the Company's products,
            including acceptance of premium rate increases by the Company's
            commercial groups.

         *  Higher than expected administrative costs in operating the Company's
            business and the cost and impact on service of changing
            technologies.

         *  The ability of the Company to maintain risk transfer, risk sharing,
            incentive and other provider arrangements and the resolution of
            existing and future disputes over the reconciliations and
            performance under such arrangements.

         *  Any changes in the Company's estimates of its medical costs and
            expected cost trends.

         *  The impact of future developments in various litigation (including
            pending class and derivative actions filed against the Company and
            certain of its officers and directors, and


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            other proceedings commenced against the Company and several
            employees by certain healthcare providers), class actions in
            Connecticut, New Jersey and New York and related litigation by the
            Connecticut Attorney General, regulatory proceedings and other
            governmental action (including the ongoing examination,
            investigation and review of the Company by various Federal and State
            authorities).

         *  The Company's ability to renew existing members and attract new
            members.

         *  The Company's ability to develop processes and systems to support
            its operations and any future growth and administer new health care
            benefit designs.

         *  Those factors included in the discussion under the caption "Business
            -- Cautionary Statement Regarding Forward-Looking Statements" in the
            Company's Annual Report on Form 10-K for the fiscal year ended
            December 31, 2001 and its Quarterly Reports on Form 10-Q for the
            periods ended March 31, 2002 and June 30, 2002.


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