How did the Trustees determine the premium amounts?
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Why is the premium higher in Plan II even though the benefits are lower?
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Why is it the same rate for single and family coverage?
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Are the premiums going to change every year?
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Why didn't the Trustees decide to charge for dependent coverage like some other plans do?
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Can I pay for the whole year in advance?
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What happens if I am late with my premium payment?
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What happens if I cannot afford to pay the premium?
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What if I don't receive payment information in the mail?
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Does the premium apply to participants with Senior Performers coverage?
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Since I am now paying a portion of the premium, is my coverage treated like self-pay coverage for purposes of coordination of benefits?
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Can I pay with my credit card?
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How do I submit my premium payment?
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QUESTION: How did the Trustees determine the premium amounts?
ANSWER: The Plan's actuary provided the Trustees with the projected savings that would be realized for various premium amounts. These, together with the estimated savings for other benefit changes, had to correct the projected deficit. It was the Trustees' intent to provide a meaningful benefit program to the greatest number of participants with the lowest premium possible.
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QUESTION: Why is the premium higher in Plan II even though the benefits are lower?
ANSWER: Plan II participants must pay a higher premium because virtually 100% of the cost of their coverage is subsidized - that is, the contribution received by the Plan based on their earnings does not cover the cost of the benefits. In Plan I, while some participants' coverage is subsidized, others fully cover their costs and some pay a portion of the cost for Plan II participants.
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QUESTION: Why is it the same rate for single and family coverage?
ANSWER: This is called a composite rate, which means that one premium covers you and all of your eligible dependents. This is the same rate structure adopted under the Self-Pay program and reflects the fact that the Plan's cost for covering dependents is significantly less than the cost for covering participants.
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QUESTION: Are the premiums going to change every year?
ANSWER: Like all of the Plan rules, the amount of the premium is subject to review by the Trustees on an ongoing basis. However, unlike self-pay premiums which are required under federal law to be adjusted every year, the amount of premium for the Earned and Earned Inactive coverage is determined solely by the Trustees, based on the financial condition of the Plan.
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QUESTION: Why didn't the Trustees decide to charge for dependent coverage like some other plans do?
ANSWER: This was considered by the Trustees. However, in order to adequately address the financial deficit, a dependent premium would have had to be much larger than the participant premium. In addition, with a dependent premium, there would have been more benefit reductions along with even higher eligibility requirements. It was the Trustees' decision to charge everyone a modest amount in order to maintain better benefits and lower eligibility requirements.
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QUESTION: Can I pay for the whole year in advance?
ANSWER: Yes. The minimum payment is for one quarter (3 months). You can pay in advance for up to four quarters of your current eligibility period.
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QUESTION: What happens if I am late with my premium payment?
ANSWER: Your payment is due by the 1st day of each calendar quarter during your eligibility period. This means it must be received by the payment center (or via Pay by Web, Pay by Phone or Auto Debit Plan) on or before the due date.
If your payment is not received by the due date, your Earned coverage will be terminated and you will not be eligible for coverage until your next benefit period, provided you requalify and meet the minimum earnings requirement. You cannot enroll in the self-pay program and you will not be eligible for conversion options.
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QUESTION: What happens if I cannot afford to pay the premium?
ANSWER: You should contact one of the assistance organizations, such as the Actors Fund. A list of these organizations is available from the Plan Office and also is on the Plan's Web site at www.sagph.org.
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QUESTION: What if I don't receive payment information in the mail?
ANSWER: If you are eligible and do not receive payment information in the mail by the 15th of the month before the start of the calendar quarter (for example, by December 15, 2002 for the first calendar quarter in 2003), you should call the Plan Office. You will not receive quarterly payment coupons if you are enrolled in the Auto Debit Plan.
To ensure that you receive all quarterly billing statements and other important Plan information, be sure to keep the Plan Office advised of any change in your mailing address. If you use your business manager or agent's address, you should advise them of the new rules.
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QUESTION: Does the premium apply to participants with Senior Performers coverage?
ANSWER: No. The quarterly premiums ($150 for Plan I and $195 for Plan II) apply only to individuals with Earned or Earned Inactive coverage. If an individual on Senior Performers coverage regains Earned eligibility due to sessional employment, he will not be required to pay this premium. This premium waiver also applies to participants who are 65 and over and have the required number of Pension Credits for Senior Performers coverage, but are not yet receiving their pension. Senior Performers coverage has its own rules outlined here.
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QUESTION: Since I am now paying a portion of the premium, is my coverage treated like self-pay coverage for purposes of coordination of benefits?
ANSWER: No. For purposes of coordination of benefits (COB), your Earned coverage is still considered "active" even though you are required to pay a premium. If you are Earned Inactive, your coverage is secondary to Medicare.
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QUESTION: Can I pay with my credit card?
ANSWER: Yes, you can pay with a credit card online or over the telephone. See here for procedures.
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QUESTION: How do I submit my premium payment?
ANSWER: You will receive a billing statement and payment coupon, along with a payment envelope, from the Plan Office each quarter, in advance. You should complete the payment coupon and mail it, along with your check, in the envelope provided. Payment must be sent to the payment center shown on the coupon. You should not send your payment to the Plan or Guild Offices. You can also pay with a credit card online or over the telephone. See here for procedures. You can also have the quarterly premium automatically deducted from a Checking or Savings account (in which case you will not receive payment coupons in the mail). See here for information and application.
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