Rail Operating Craft Policy Enhancements
- July 31, 2024
Effective August 1, 2024, LECMPA will be updating its policy offerings for rail operating craft members. Providing our members with industry-leading protection and benefits is what they have come to expect.
“LECMPA recognizes the need to keep pace and evolve with the times, for the stresses placed on its members have never been greater,” said Rod Bloedow, President, LECMPA. “I’m proud to announce that the most comprehensive package of wage loss insurance and benefits available to rail operating craft employees just got better. Hugely so!”
All No. 16 policyholders will be upgraded to our new Premier 550 policy at no additional cost. They will gain an additional 185 discipline days, an increase of 50%, for the same monthly premium.
Uniform No. 16 rates will be in-force for all Premier 550 coverage, up to $300/day for eligible members. All No. 16 policyholders who carry additional coverage on the No. 365 — more than $252/day — will have this coverage transferred to the new Premier 550. This represents a savings of 44% on our highest daily coverage.
All No. 16 policyholders will be eligible for 550 days of coverage August 1, 2024. New members, approved for Premier 550 coverage prior to October 1, 2024, will be immediately eligible for 550 days of coverage.
Premier 120 policyholders will be upgraded to the Premier 180 policy. They will gain an additional 60 discipline days and 34% more daily benefits for the same monthly premium.
Premier 180 policyholders will enjoy a daily benefit increase of 57% for the same monthly premium. Additionally, new, lower rates will make the Premier 180 the most comprehensive and affordable coverage on the market for railroaders who desire six months of protection.
“At its June quarterly meeting, the Association’s Board of Trustees unanimously agreed to expand coverage to 550 days, the average length of time it takes for a typical dismissal case to work its way through arbitration,” said Bloedow. “Our six-month policyholders will enjoy increased daily benefits and reduced rates. The Association continues to offer its member-owners the most value for their hard-earned dollar.”
LECMPA has been on the job for our railroad members for 114 years, providing them with the highest value wage loss insurance, benefits, and service for a reasonable price. In September 2022, we lowered premiums by 25%. Today’s announcement takes our value proposition even further. Thank you for the continued trust you place in the Association, and for your support of over 26,000 fellow railroad members and their families – across the United States and Canada.