Michael Estrada tv video film broadway Michael Estrada

SAG-AFTRA Health Plan CEO Michael Estrada Describes “Perfect Storm” That Required Action To Save Plan

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deadline.com

David Robb Labor EditorSAG-AFTRA Health Plan CEO Michael Estrada on Tuesday described the “perfect storm” of soaring health care costs, employer contributions to the plan that have failed to keep up with those costs, and the devastating impact of the coronavirus shutdown on those contributions that made a complete overhaul necessary to keep the plan from going broke by 2024.Changes to the plan, which include increased eligibility thresholds for many, and higher premiums for all, will go into effect on January 1, 2021, and are projected to put the deficit-plagued plan back in the black by 2022.

Actuaries estimate that under the changes, the plan will run a surplus of $26 million that year, and a $53 million surplus in 2023.

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