(224) 770−5305

Benefits & Costs

IBEW Local 150

Summary of Benefits & Costs

Coverages are guaranteed approved for all actively working/dues paying Members of IBEW Local 150.

FOR QUICK AND EASY ENROLLMENT CALL (224) 770−5305 (Mon-Fri 8am-5pm CT).

  Short-Term Disability (STD)

  • Option A: coverage is available from $200-$500 in $50 increments
    – Pays on day 30 for up to 35 weeks
  • Option B: coverage is available from $200-$500 in $50 increments
    – Pays on day 15 for up to 37 weeks
  • Pre-existing conditions are covered after 12 months
  • Covers off the job disabilities resulting from injury or illness
  • Stackable with other benefits up to 100% of pre-disability earnings
  • Benefits paid are tax-free

STD OPTION A – FLAT RATES – 30 DAY MONTHLY PREMIUMS

Weekly Benefit Age < 30 Age 30 – 39 Age 40 – 49 Age 50 – 59 Age 60 – 69
$200 $11.80 $17.00 $24.00 $38.00 $55.60
$250 $14.00 $20.50 $29.25 $46.75 $68.75
$300 $16.20 $24.00 $34.50 $55.50 $81.90
$350 $18.40 $27.50 $39.75 $64.25 $95.05
$400 $20.60 $31.00 $45.00 $73.00 $108.20
$450 $22.80 $34.50 $50.25 $81.75 $121.35
$500 $25.00 $38.00 $55.50 $90.50 $134.50

STD OPTION B – FLAT RATES – 15 DAY MONTHLY PREMIUMS

Weekly Benefit Age < 30 Age 30 – 39 Age 40 – 49 Age 50 – 59 Age 60 – 69
$200 $14.70 $21.72 $31.08 $49.80 $73.20
$250 $17.63 $26.40 $38.10 $61.50 $90.75
$300 $20.55 $31.08 $45.12 $73.20 $108.30
$350 $23.48 $35.76 $52.14 $84.90 $125.85
$400 $26.40 $40.44 $59.16 $96.60 $143.40
$450 $29.33 $45.12 $66.18 $108.30 $160.95
$500 $32.25 $49.80 $73.20 $120.00 $178.50

Call (224) 770−5305 to get premiums not listed above.

  Long-Term Disability (LTD)

  • LTD Option A pays a monthly benefit of 60% of your pre-disability earnings for up to 2 years
    – Pays after 270 day waiting period
  • LTD Option B pays a monthly benefit of 60% of your pre-disability earnings for up to 5 years
    – Pays after 270 day waiting period
  • Pre-existing conditions are covered after 12 months
  • Coverage is 24/7 on and off the job for disabilities resulting from injury or illness
  • Offset by other benefits
  • Benefits paid are tax-free

LTD OPTION A (60% BENEFIT FOR UP TO 2 YEARS) MONTHLY PREMIUMS**

Annual Earnings Monthly Benefit Age < 30 Age 30 – 39 Age 40 – 49 Age 50 – 59 Age 60 – 69
$40,000 $2,000 $5.70 $8.40 $13.80 $26.40 $48.00
$50,000 $2,500 $6.38 $9.75 $16.50 $32.25 $59.25
$60,000 $3,000 $7.05 $11.10 $19.20 $38.10 $70.50
$70,000 $3,500 $7.73 $12.45 $21.90 $43.95 $81.75
$80,000 $4,000 $8.40 $13.80 $24.60 $49.80 $93.00
$90,000 $4,500 $9.08 $15.15 $27.30 $55.65 $104.25
$100,000 $5,000 $9.75 $16.50 $30.00 $61.50 $115.50

LTD OPTION B (60% BENEFIT FOR UP TO 5 YEARS) MONTHLY PREMIUMS**

Annual Earnings Monthly Benefit Age < 30 Age 30 – 39 Age 40 – 49 Age 50 – 59 Age 60 – 69
$40,000 $2,000 $7.50 $14.70 $30.00 $66.00 $93.00
$50,000 $2,500 $8.63 $17.63 $36.75 $81.75 $115.50
$60,000 $3,000 $9.75 $20.55 $43.50 $97.50 $138.00
$70,000 $3,500 $10.88 $23.48 $50.25 $113.25 $160.50
$80,000 $4,000 $12.00 $26.40 $57.00 $129.00 $183.00
$90,000 $4,500 $13.13 $29.33 $63.75 $144.75 $205.50
$100,000 $5,000 $14.25 $32.25 $70.50 $160.50 $228.00

**Annual earnings include your total compensation for the year including overtime. Benefits are subject to offsets.

Call (224) 770−5305 to get premiums not listed above.

  Life and Accidental Death & Dismemberment (AD&D)

Please note that Life/AD&D guaranteed amounts may be lower or not offered at future open enrollments for Members who do not enroll initially.

  • Guaranteed coverage for Member/spouse/children—no pre-existing condition limitations
  • All Life coverage includes an equal amount of AD&D
  • If death is caused by an accident the benefit doubles
  • Member coverage is available from $10,000-$150,000 (in $10,000 increments—spousal and child coverage available if Member life coverage is elected)
  • Spousal coverage is available from $5,000-$50,000 (in $5,000 increments, not to exceed 100% of Member’s election)
  • Children eligible for a flat $10,000 of coverage. One fee of $2.30 covers all dependents.
  • Life coverage is convertible & portable
  • Coverage is 24/7 on and off the job

LIFE AND AD&D BENEFITS & MONTHLY PREMIUMS

Member (Elected in increments of $10,000)

Benefit Age < 30 Age
30 – 34
Age
35 – 39
Age
40 – 44
Age
45 – 49
Age
50 – 54
Age
55 – 59
Age
60 – 64
Age
65 – 69
$10,000 $2.98 $3.10 $3.31 $3.85 $4.80 $6.53 $9.22 $11.54 $16.76
$50,000 $6.90 $7.50 $8.55 $11.25 $16.00 $24.65 $38.10 $49.70 $75.80
$100,000 $11.80 $13.00 $15.10 $20.50 $30.00 $47.30 $74.20 $97.40 $149.60
$150,000 $16.70 $18.50 $21.65 $29.75 $44.00 $69.95 $110.30 $145.10 $223.40

Spouse (Elected in increments of $5,000. Based on Member age. Not to exceed 100% of Member’s Life election)

Benefit Age < 30 Age
30 – 34
Age
35 – 39
Age
40 – 44
Age
45 – 49
Age
50 – 54
Age
55 – 59
Age
60 – 64
Age
65 – 69
$5,000 $2.49 $2.55 $2.66 $2.93 $3.40 $4.27 $5.61 $6.77 $9.38
$25,000 $4.45 $4.75 $5.28 $6.63 $9.00 $13.33 $20.05 $25.85 $38.90
$50,000 $6.90 $7.50 $8.55 $11.25 $16.00 $24.65 $38.10 $49.70 $75.80

Child(ren)

Benefit Age < 30 Age
30 – 34
Age
35 – 39
Age
40 – 44
Age
45 – 49
Age
50 – 54
Age
55 – 59
Age
60 – 64
Age
65 – 69
$10,000 All children/dependents are covered at one cost of $2.30

Call (224) 770−5305 to get premiums not listed above.

  Critical Illness

  • Pays a lump sum benefit directly to the individual
  • Covers critical health events such as heart attack, cancer, stroke, COVID, kidney failure and more
  • Members can elect either a $10,000 or $15,000 Benefit
    – Spouse can be covered at 50% of Member election
    – Dependent children are covered at 50% of Member election at no additional cost
  • Includes a $50 Health Screening Benefit

CRITICAL ILLNESS BENEFITS & MONTHLY PREMIUMS

Member (Rates are locked at the age you enroll)

Low Option: $10,000
Age Monthly Premium Non-Smoker Monthly Premium Smoker
< 30 $8.34 $10.45
30 – 39 $11.60 $16.36
40 – 49 $19.59 $29.09
50 – 59 $35.06 $54.94
60+ $64.32 $99.06
High Option: $15,000
Age Monthly Premium Non Smoker Monthly Premium Smoker
< 30 $10.74 $13.92
30 – 39 $15.64 $22.79
40 – 49 $27.62 $41.87
50 – 59 $50.84 $80.65
60+ $94.73 $116.83

Spouse (Rates are locked at the age you enroll. Member must enroll in order to elect spouse coverage.)

Low Option: $5,000
Age Monthly Premium Non-Smoker Monthly Premium Smoker
< 30 $5.93 $6.99
30 – 39 $7.56 $9.94
40 – 49 $11.55 $16.30
50 – 59 $19.29 $29.23
60+ $33.92 $51.29
High Option: $7,500
Age Monthly Premium Non-Smoker Monthly Premium Smoker
< 30 $7.13 $8.72
30 – 39 $9.58 $13.15
40 – 49 $15.57 $22.69
50 – 59 $27.18 $42.08
60+ $49.12 $75.18

  Accident

  • Pays a lump sum benefit directly to the individual
  • Guaranteed approved coverage
  • No pre-existing limitations
  • Includes a Wellness Benefit of up to $30 for covered preventive screening
  • Covers injuries including fractures, burns, concussions, dislocations, lacerations and more
  • Covers services including ER visit, x-ray, MRI, anesthesia, crutches, stitches, casts and more

ACCIDENT OPTIONS & MONTHLY PREMIUMS

Coverage Monthly Premium
Member $13.38
Member & Spouse $20.58
Member & Child $27.18
Family $34.39
HOW DOES THE COVERAGE WORK?

Amount payable was generated based on benefit amounts for: Closed-fracture of the thigh ($2,400), ambulance to hospital ($200), Emergency Room admission ($125), X-ray ($50), medical devices (crutches) ($50), and physician follow-up ($25).

IMPORTANT NOTE: If you leave the union or retire it is your responsibility to contact our office immediately at (847) 387-3555. Failure to do so within 30 days will forfeit your ability to keep coverage and receive any premium refunds. Premium is determined by your age on the coverage effective date, and will increase on the next policy anniversary date after you enter the next age band. Benefit effective dates are subject to change. The union does not make any endorsement or recommendations regarding these benefits. This program is voluntary and it is solely the Members’ decision to enroll. Members are responsible for paying their own premiums. This is a basic summary of benefits and makes no guarantee or warranty on the processing of claims. Other limitations may apply. It is recommended that each enrolled Member obtain a copy and read the entire policy booklet. All non-banking administrative and transaction fees are included in the enclosed premiums.