May 2020 Special Edition Spotlight on Benefits Newsletter Now Available

The May 2020 Special Edition Spotlight on Benefits newsletter is now available. This issue provides updates on the temporary benefits changes enacted by the Board of Trustees in response to the COVID-19 pandemic and provides additional information of importance during these challenging times.

As the impact of the crisis continues to evolve, the Board of Trustees is closely monitoring the situation. Should any additional benefits changes be made or new legislation be passed, updates will be announced here on the Plans’ website, through email blasts and in subsequent newsletters. A complete list of the Plans’ responses to the COVID-19 outbreak and additional available resources are listed on the Plans’ COVID-19 Resources and Updates page.

IN THIS ISSUE:

Board Continues to Closely Monitor Impact of COVID-19 Crisis.  To assist Plans participants experiencing financial hardship, the Board of Trustees has approved the first-ever Supplemental Plan loan program, three months of premium-free COBRA for eligible participants and a deferral option for dependent premium payments due April 1, 2020. These changes were enacted as the Board continues to actively monitor the impact of COVID-19 and take action to support participants. Read more about the important updates below.

Three Months of Premium-Free COBRA Coverage Available to Health Plan Participants with Earned Active Coverage Terminating June 30, 2020.  The Board of Trustees has approved a three-month period of premium-free COBRA coverage for Health Plan participants whose earned active coverage terminates on June 30, 2020 and for whom the DGA-Producer Health Plan is their primary plan. Eligible participants need to submit the completed COBRA Election Form included with their open enrollment materials. Open enrollment materials should be expected by mid-June.

Deferral Period for April 1 Dependent Premium Payments Until July 1, 2020.  Eligible participants with dependent premiums that were due on April 1, 2020 had the option to defer that payment until July 1, 2020. Participants had to notify the Plans’ office by April 15, 2020 to exercise this option. Deferred payments must be received by July 1, 2020.

Temporary Loans from Supplemental Plan Account Available from May 1 to July 31, 2020.  To assist participants experiencing financial hardship during the unprecedented work shutdown, the first-ever Supplemental Plan Loan is available. Participants can take up to two loans from the vested balance of their Supplemental Plan account from May 1, 2020 to July 31, 2020. Full loan terms and a loan application are available at www.dgaplans.org/LoanTerms.

Enroll in Direct Deposit to Ensure Uninterrupted Benefit Payments.  Due to the many state and local government restrictions and closures, the Plans are encouraging participants who receive pension payments via paper check, to enroll in direct deposit. Pension payment recipients in the U.S. should use the Direct Deposit Form, and those outside the U.S. should use the Wire Transfer Form. Both forms are available at www.dgaplans.org/Enroll-in-Direct-Deposit. Depending on when the Plans’ office receives a completed form, direct deposits will be set up at the earliest possible date.

Required Minimum Distributions from the Supplemental Plan Waived for the Remainder of 2020.  The Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), passed on March 27, 2020, waives all Required Minimum Distributions (RMDs) from defined contribution plans (like the Supplemental Plan) for 2020. Accordingly, all RMDs from the Supplemental Plan have been suspended for the remainder of 2020. Participants scheduled for RMDs from the Supplemental Plan in April 2020 and December 2020 have been notified via email and/or phone.

Participants who would like to take a distribution must complete the required paperwork and meet the eligibility requirements. These distributions will not be characterized as “Required Minimum Distributions” and may be eligible for rollover. Taxes on such distributions may also differ.

The Basic Plan is not affected by the Required Minimum Distribution provisions of the CARES Act and will continue to make Required Minimum Distributions as scheduled for the remainder of 2020.

Board of Trustees approves temporary Health Plan coverage changes in response to COVID-19.  As reported in the Spring 2020 newsletter, the Board of Trustees has decided that all patient cost sharing (i.e., co-pays, co-insurance and deductibles) will be waived for both network and non-network COVID-19 related testing, including antibody testing, and telemedicine/telepsychology visits will be covered until further notice.

Government Extends Deadlines Related to Claims and Appeals, Special Enrollment and COBRA.  The federal government has extended certain deadlines related to claims and appeals, special enrollment and COBRA coverage for the duration of the coronavirus crisis. Under this relief, the COVID-19 “Outbreak Period”—which runs from March 1, 2020 until sixty (60) days following the federal government announces the end of the National Emergency—will not be counted toward the time allotted for certain material deadlines, including benefit claims, special enrollment periods, COBRA coverage deadlines.

Where to Find Information and Assistance During the COVID-19 Crisis.  Additional resources are available to those in need, whether it is financial, informational or health-related, including mental health support, telemedicine, prescription medication guidance and more. For a complete list of these resources, visit the Plans’ COVID-19 Resources and Updates page.