New Format Medical Insurance Scheme for retired Bank Pensioners

[Narayanan Venkateshwaran]

After discussion with IBA 11 option have been thrown open to retirees with a base limit of Rs 2 lacs. The tender is going to be floated shortly.

The Insurance companies are commercial venture and it is not that easy a task to give competitive quote by them with so many options

The negotiators should have kept the scheme simple, simultaneously affordable.

The Banks will have to chip in reasonably with subsidy making it uniform for all banks.

The initial introduction was attractive only to go awry later

It is unfortunate that despite the scheme being in operation for so many years ,things are in amorphous state keeping the pensioners in tenterhooks.

regards

C V Narayanan

16th Aug 2023

 

[kandala ashok]

Sir,

Earlier it is noticed that insurance companies are allowed to change T&C, unilaterally, after finalizing the tender/agreement and unfavourably to the retirees.

Retirees themselves could not do anything and IBA kept quiet as it is no party to it. Banks themselves foolishly agreed to it. Leaders kept quite.

I pray one and all to ensure that the situation does not repeat.

Best wishes

Ashok kandala

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