MetLife adjusts short term disability plan

An audit of the BLET Short Term Disability Plan conducted by MetLife and approved by the BLET Trust Fund Trustees has resulted in a reduction in weekly benefits.

Effective October 1, 2007, weekly benefits will be reduced from $402 per week to $362 per week.

The good news is that the reduction will not impact members with existing claims or those who have a disability date prior to October 1, 2007. They will continue to qualify for the $402 per week benefit. Only those claims with a date of October 1 or after will be adjusted to $362 per week.

The plan experience is monitored regularly and reviewed annually. A high number of claims forced the plan to pay more in benefits than it collected in premiums. This, in addition to the fact that we were unable to secure payment of a higher premium from the rail carriers, has forced the Trust Fund to adjust the benefits accordingly.

 

 

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