IBA MEDI CLAIM INSURANCE SCHEME - REFUND OF PREMIUM ON OPTING OUT

[PM]

Dear Friends,

                         

                          As we know the unilateral denial of cover on Domiciliary treatment to retirees by United India Insurance co resulted in refusal of   TPAs  on entertain the claims of the retirees for such treatment on the plea of above instructions from the UIIC. 

                         Employees Unions as well as retirees Organisations too have    taken up the matter with IBA  to provide  the benefit of reimbursement of domiciliary treatment expenses as applicable to employees in service as per agreed settlement,which  is also applicable to the retirees as the same has not been excluded in the Scheme.

                         In the letter addressed to CEOs of  Banks UIICO also  conveyed that retirees can opt out from the scheme if they wish and refund of premium

already paid will be refunded.Under this back ground UIICO's instruction to bank on formalities of refund is furnished here below :

Extracts from Cir of Corporation Bank to its Branches,on the subject -   for information:

                     IBA Medical Reimbursement Scheme – Refund of premium for retirees opting out due to non-coverage of domiciliary expenses

              ' Further to circulars issued by Bank  on introduction of IBA medical reimbursement scheme formulated as per Joint Note dated 25.05.2015 and Xth Bipartite Settlement, administering of the Scheme by M/s.United India Insurance Company Ltd. and subsequent extension of the same to retired employees, employees retired under VRS, employees resigned after serving particular years of service and widows of retirees etc:

"2.0. Now, it is informed by M/s.United India Insurance Company Ltd. that the last date for opting out of the said Scheme for want of coverage of Domiciliary Treatment by the retired employees is 20th February, 2016. Any request for opting out after 20th February, 2016 will be considered as a normal cancellation i.e by charging the premium for the period covered on short period scale as per policy condition number 5.14 which is given below:-

Period on Risk Rate of premium to be charged

Upto One Month 1/4th of the annual rate

Upto Three Months 1/2th of the annual rate

Upto Six Months 3/4th of the annual rate

Exceeding Six months Full Rate

3.0. It is also informed that the Insurance Company shall allow the refund provided NO CLAIM has occurred up to the date of cancellation.

4.0. Hence this is to inform all our retired employees,VRS optees, employees resigned from the services of the Bank after putting particular number of service as per the H.O.Circualr No.699/2015 and widows of the retired employees who have paid premium and joined the subject IBA medical reimbursement scheme, that if any of them want to withdraw from the said scheme, they can do so by submitting a written request as per Annexure to Bank's H.O. Staff Welfare Section on or before 18.02.2016. "

[chandy pv]

why no organiztion is bringinging oiic to court and claiming damages for breach of contract and cheating.  this would have happened in any other country. atleast drag them to consumer courts if court  proceedings r expensive. shame on unions for their silence when contract is breached 

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[M A Prasad]

Dear PM,

I am not sure what is in  the agreement between IBA and UIICO regarding domiciliary treatment reimbursement and we need not blame UIICO for this reason.  In my  opinion in the original agreement with UIICO,, this clause would have been there and IBA would have omitted to  notice this and hence now IBA is not in a position to take up this UIICO.  This is my surmise.

Regards,

M A Prasad
Phone  +91 431 4030516

Mobile  +91 75985 12516

Res: F12, Sri Karpagavruksham Apartments

        Subramaniapuram Road, Seshadripuram

        Srirangam, Trichy 620006

[PM]

Dear Mr Prasad,

                                      IBA's newly introduced Medi Claim Insurance  Scheme is only based on Agreement entered Between serving employees unions and IBA dt 25th May 2015  and it is only extended to cover the existing retired officers/ employees of the Banks and dependent spouse subject to payment of stipulated premium by them.

                                      The only difference is in case of employees, banks will pay the premium on behalf of employees and for retirees it should be borne by them. So there cannot be any deviations on the scheme agreed under settlement, unilaterally by UIICO.

                                       Retirees are not prevented/restricted by the unilateral action of Insurance company, and ensure  to claim expenses on domiciliary treatment incurred if any also  by any retiree  with TPA.

 

[bhaskara sarma]

Dear friends,

This domiciliary treatment is also like pension to left over category of retirees.IBA and UFBU are not preserving the sanctity of written settlements.

With regards,

P B Sarma.

[Gopabandhu Mohapatra]

In response to the letter issued by AIBRF, the response from IRDAI is not yet known. 

Keeping in view the above deadline and to divide the Retiree, it will be appropriate on the part Unions to immediately go for a stay order from the High Court, making UIIC and IBA/ Banks as party to the case. 

Retiree unions should advice the members not to withdraw from the scheme till the case is finalised.

[M A Prasad]

Dear PM,

I would like to still verify the original agreement between UIIC and IBA.  UIIC being a public sector organization of repute, may not be unilaterally taking any steps that too with another PSU.  Domicillary coverage requires additional premium with certain restrictions.

Regards,

M A Prasad
Phone  +91 431 4030516

Mobile  +91 75985 12516

Res: F12, Sri Karpagavruksham Apartments

        Subramaniapuram Road, Seshadripuram

        Srirangam, Trichy 620006

[K Balasubramanian]

Now that the writing on the,wall is clear the ufbu can seek further clarification through iba the clear terms and conditions and the nature of diseases pre existing etc
retirees like me has not renewed the mediclaim policy thinking that whatever the cover let us go with the bank S master policy
It is really sin and a result of our past karma to be under the mercy of these heartless executives right from insurance iba MoF etc. 
At least in next birth if at all there let me pray God not to give employment once again in bank.  Because at that time also the same type of attitude will prevail  because bad debts devil is growing like anything which will swallow the institution itself. Unless and otherwise banks income increases by non interest income we are not having good future and after 7 th paycommission our salary will  be 50 % only on relative terms in case of officers. Young leader ship should emerge and insist for banking pay commission
K Balasubramanian

[Anantharaman Tg]

Whatever be the reason, one is certain that ultimately it is the pensioners/retirees who have to suffer at the hands of IBA.

In the matter of omission and commission, there are very pucca so as to make it anti-retiree/pensioner.

Anantharaman