Health Care Information
In the event of a work stoppage (Lock Out or Strike), your benefits will cease. Cobra information in the bottom link provides you information on how much your monthly premium costs for your medical insurance. We encourage everyone to initially sign up for Cobra to extend your current insurance for approximately 45 days, and then make a decision on if you want or need to maintain this coverage and pay the premium on a monthly basis.
The local is enrolled in the Strike & Defense Fund Emergency Medical Plan Program. This provides the members Emergency Medical coverage while they are on strike.
Presciption Medications: PLEASE REFILL YOUR PRESCIPTIONS PRIOR TO FEBRUARY 1st. If it is possible to get 90 days of medication- please do so. In the event of a work stoppage you may want to utilize the pharmaceutical company's website for coupons and request free medication based on your lack of income.
- Cobra Flyer
- Enhanced Emergency Medical Program
- Summary of Plan Options
- 2014 Cobra Information- Costs for our plans are on the last page.
- 2015 Cobra Information- Costs for our Plans are on the last page.
Protecting Yourself & Frequently Asked Questions
- Protect Yourself Before a Work Stoppage
- Protect Yourself During a Work Stoppage
- Q & A Strike & Defense Fund - this is some information on the Strike & Defense fund and how Assistance works- more information will be shared after a work stoppage. It is typically a month before strike assistance from the International begins.
- Q & A Strikes, Lockouts, & Working without an Agreement
- If you are planning to take out a loan against your 401K to prepare for a work stoppage- please keep in mind that it takes a few days to process these requests. You may want to initiate this process soon. Once a work stoppage starts you can't access those funds by taking a loan- only by taking a withdrawal with penalties and tax implications.
- There is a 10% withdrawal penalty to the fund, and another 20% tax penalty for withdrawal. You are locked out of the Company match for 6 months.
- If you are making payments to a loan from your 401K and do not plan to default during a work outage please make payment arrangements. You can have a payment book sent to your home to make payments directly to Fidelity.
- If you're on strike or a lock out you are not considered an active employee. Because of this you are prevented from taking loans. As an active employee, you have control of modeling loans that can be paid back or defaulted into a withdrawal.
- If a withdrawal is taken as an active employee you are locked from receiving company match for a period of 6 months.
- As an inactive employee, you can take a withdrawal or rollover- no loans and the process is much different.
- This is meant to highlight options prior to contract expiration- not give any type of financial advice. All options obviously have tax considerations. Fidelity: