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AGMA Health Fund Announces Changes in Plan, Info Sessions

Published September 23, 2021   |  By Musical Artists  |  Post in All Areas

As a reminder, the Health Fund is a separate entity from AGMA, with its own staff and Trustees. Information is available on the AGMA Health Fund website. Please reach out to the Fund Office at 212-765-3664 or info@agmaretirement-health.org with any questions.

9/23/2021 - AGMA members who are participants of the AGMA Health Fund should have received communications from the AGMA Health Fund about changes that will go into effect on January 1, 2022.

INFO SESSION: AGMA encourages its eligible members to join the last general info session hosted by the Health Fund about these changes on TUESDAY, SEPTEMBER 28, at 11:00 a.m. ET. The Health Fund tells AGMA that the session will also be recorded. Here is the link to join on that day.

MORE ABOUT THE CHANGES: According to the AGMA Health Fund, eligible members will have a choice of two health plans in 2022: the new “Plan A1” or the previous “Plan A.”

“Plan A1” is a High-Deductible Health Plan offset by a Health Savings Account. (A Health Savings Account is a tax-exempt health investment account that the member owns in perpetuity and can use to pay eligible health care costs now or at any future date.) The monthly individual insurance premium for Plan A1 will be paid 100% by the employer (unless the CBA currently provides otherwise). As part of Plan A1, a total annual contribution of $1,000 will be made into the member's Health Savings Account at no cost to them, to help offset the deductible. The member can also contribute on a pre-tax basis.

Alternatively, members may elect to remain in “Plan A,” but will be required to contribute $40 per month toward the monthly insurance premium. This choice of plans will allow members to select the option that best meets their needs and help the Fund continue to offer excellent coverage while not paying for coverage a member may not need.

TIMELINE: In October, eligible members will receive enrollment materials, and the Fund will conduct follow-up shop meetings to answer remaining questions. In November, eligible members will make selections during Open Enrollment.