Reprinted from Deadline Hollywood by David Robb on September 9, 2020.
The SAG-AFTRA Health Plan will be offering an 80% reduction in COBRA premiums for many participants who no will longer qualify for coverage starting October 1.
Facing staggering deficits due to skyrocketing health care costs, the Plan announced last month that it will be raising premiums and earnings thresholds beginning January 1. The Plan projects that some 3,500 participants and 2,800 of their dependents will lose coverage because of the changes.
“Despite the serious financial challenges facing the SAG-AFTRA Health Plan, Plan Trustees are committed to helping as many participants keep their health coverage as is sustainable for the Plan,” the health plan said. This comes on the heels of a 50% premium reduction for the second quarter of 2020 for active and COBRA participants then covered. …