IBA GROUP MEDICAL INSURANCE

[Narayanan Venkateshwaran]

The Reirees' Bodies seem to have unflinching faith in IBA Policy, not withstanding  premium reaching astronomical heights.

Their  stand may be based on the assumption that something good may emerge if not now ,atleast in future 

The possibility is very remote for following reasons.

1. Any help that comes has to be from Staff Welfare expenses.The allocation is 3% of net profit subject to certain ceiling which means fund flow to this account is  variable and uncertain.

2.It is not to our knowledge how many banks are in a position to contribute more if the ceiling is removed

3.There are countless no of contending expenditure items related to serving staff ( Some may be avoidable) all subjected to inflation effect and what may be left for pensioners' subsidy is meagre.

It is inexplicable  as to how some of the  Affliates of Pensioners' Body are managing to get  plans from  same insurers for subsided cost.

If each Pensioners' unit makes arrangement on their own what will be left for IBA POLICy?

If high claims ratio is impeding factor  why not give a fair trial to each bank separately handling  pensioners policy individually instead of just doing the administrative work of collecting premium and remitting the same .Policies are also issued Bank wise now

We should also not miss scenario of each Bank providing

 subsidy as per their discretion when  high premium is fixed on claims ratio.

This emphatically reinforces the argument that each Bank should have separate arrangement

C V Narayanan

[Ramani Konnayar]

I fully concur with the views expressed by Sri.Narayanan. Already, the facilities/concessions extended to retirees vastly differ from bank to bank and there is no uniformity. This being so, the group medical insurance policy may also be designed by banks individually for their employees/retirees. This suggestion deserves a serious consideration by all concerned.

K N Ramani