Dear Members,
We are excited to share some positive changes in UA Local 740’s benefit programs that aim to enhance your experience and provide better support.
The Trustees recently hired Eckler Ltd to evaluate the health plan’s long-term sustainability and assess if the Employee Life & Health Trust (ELHT) fund can support benefit improvements. The study projected health plan costs, ELHT contribution rates, and member dollar bank deductions over the next ten years.
The study shows that benefit costs will rise by 5% per year, making current funding levels insufficient over time. To maintain support for the health plan and any improvements, the ELHT contribution rate will increase by $0.25 on May 1st, 2025, followed by a 5% yearly increase each May 1st thereafter.
Click here to read the full newsletter and learn about the improved benefits effective May 1st, 2025.