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                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, February 6, 1993                   TAG: 9302060145
SECTION: BUSINESS                    PAGE: A-6   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

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IN BUSINESS

Va. Blues broaden options benefits

Blue Cross and Blue Shield of Virginia said Friday it has broadened the benefits it offers in First Option, a group health insurance program for small businesses.

Ronald H. Bargatze, executive vice president, said the new First Option includes a prescription drug program, expanded outpatient benefits, increased visits to doctors' offices and laboratory and X-ray coverage. Annual out-of-pocket expenses are capped at $5,000, he said, and the company eliminated the $50,000 annual benefit limit.

To receive maximum benefits, customers must use health providers designated by Blue Cross/Blue Shield where they are available.

First Option is available only to new companies or those that have not offered a health insurance package to employees for at least a year.

- Staff report

Briefly . . .

Coastal Corp., Houston parent of ANR Coal Co. and Coastal Coal Sales Co. of Roanoke, said Friday it will issue up to $200 million in cumulative preferred stock. Subject to market conditions, the stock will be offered for sale as soon as filings are made with the Securities and Exchange Commission. Proceeds will be used to provide cash to retire high-cost debt, Coastal said.

\ First Union Corp. of Charlotte, N.C., proposed acquirer of Roanoke's Dominion Bankshares Corp., said Friday it will offer $150 million in 10-year subordinated debt with a 7.25 percent coupon at a price of $99.691. Proceeds will be used for general corporate purposes. The offering is scheduled to close on Feb. 16.

\ Jerry D. Salyer, trading as Salyer Electric and Lonesome Pine Construction Co. of Coeburn, has filed a petition for a wage-earner plan in U.S. Bankruptcy Court in Roanoke. He reported debt of $88,578 and assets of $37,350.

\ The Greenbrier, a White Sulphur Springs, W.Va., resort, said Friday its total guest days in 1992, a measure of room occupancy, rose 4.4 percent over 1991 levels. Its group business, which represents 60 percent of its total guest days, rose 12 percent.

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