MEDI CLAIM INSURANCE SCHEME - UNION BANK ISSUE CIR

[PM]

Dear Friends,

                              Union Bank of India has issued circular on IBA's Medi Claim Insurance scheme,agreedretireees) under 10th BPS/JN vide their cir No.6243 dated 18th Sept 2015 for retired officers/employees.

                              Retirees of UBI,may Kindly note that the last date for submission of option letter to join under the scheme by retirees is 20th October 2015.

                             Insurance premium per year for self and spouse of retiree would be at Rs.7493 for officers and Rs.5620 for non subordinate/subordinate staff respectivelygoogle.

                             Copy of circular and format on option is attached here under for information of UBI retirees.

Eleven PSBs and one under Pvt banks ie.Kotak Bank(  ING Vysya ) have issued circulars so far.

[PM]

For Information:

Dear Friends,

                              As per  information  available so far, the following banks are yet to issue circulars on implementation of Medical Insurance Scheme for retired officers/employees of IBA member Banks which are parties to 10th BPS/JN dated 25th May 2015,in lieu of existing hospitalization scheme.

1.Central Bank of India
2.Corporation Bank
3.Dena bank
4.Oriental Bank of Commerce
5.Punjab and Sind Bank
6.United Bank of India
7.United Commercial Bank

[ramamurthy s]

Whether Central Bank of India has issued circular?

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[rajasekar venkatesan]

Canara Bank is left out in the list below

 

Rajasekar Venkatesan

Singapore

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From: PM <moha...@gmail.com>
To: bankpensioner <bankpe...@googlegroups.com>
Sent: Wednesday, September 23, 2015 11:38 PM
Subject: bankpensioner Re: MEDI CLAIM INSURANCE SCHEME - UNION BANK ISSUE CIR

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[cpvnair.nair]

Dear PMji, you left out SBI and Associates .We in SBT, eagerly wait for the circular.Any news/developments in SBI?

 

 

Warm reg

 

 

CPVNAIR

 

From: bankpe...@googlegroups.com [mailto:bankpe...@googlegroups.com] On Behalf Of PM
Sent: Wednesday, September 23, 2015 8:39 AM
To: bankpensioner
Subject: bankpensioner Re: MEDI CLAIM INSURANCE SCHEME - UNION BANK ISSUE CIR

 

For Information:

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[PM]

Dear Nairji,

                               Yes.I have not included SBI and associate banks in the remaining bank's list.The reason being,as per earlier information from SBI unions it was gathered that their existing Health Policy is found better than that of  IBA's new Medi Claim Scheme,and hence they may prefer to opt out from present scheme.

Latest position is yet to be known.

[PM]

Dear Mr Venkateswaran,

                                                       For your information:

         CANARA BANK  has  already issued Circular on IBA Medi Claim Insurance Scheme,vide their  circular No. 443/15   on 7th Sept '15.Copy is available under this blog.

[ANIL KELKAR]

Dear Sir

List is of those banks, who have NOT issue the circular so far.Of course SBI and group banks are missing in the list.

Kelkar
--------------------------------------------
On Thu, 9/24/15, 'rajasekar venkatesan' via bankpensioner <bankpe...@googlegroups.com> wrote:

Subject: Re: bankpensioner Re: MEDI CLAIM INSURANCE SCHEME - UNION BANK ISSUE CIR
To: "bankpe...@googlegroups.com" <bankpe...@googlegroups.com>
Date: Thursday, September 24, 2015, 5:56 AM

Canara
Bank is left out in the list
below Rajasekar
VenkatesanSingapore

retirees.Eleven PSBs and one under Pvt banks ie.Kotak

[bhaskara sarma]

Dear Sri Nair,

SBI has declined to avail the scheme since they have one scheme already in force and preferred to continue the scheme.

With regards,

P B Sarma.

[Mohandas Rao]

Dear Sri Mohan & Sri Nair,

The existing scheme of SBI which was extended to other Associate Banks are of course good. They have two schemes: REMBS-I and REMBS-II. In the first scheme only a limited diseases are covered. One month's gross pension as one-time payment was recovered when the option was open. Total limit Rs.2,00,000/- for the pensioner and the spouse for the entire life. Domiciliary treatment expenses not covered. This scheme was for all the retirees of the bank.

The REMBS-II was on improved one. It requires a higher one-time premium for different limits. For example for a cover of Rs.7.00 lacs, around Rs.70,000/-. It covers more diseases and domiciliary treatment expenses up to 10% of sum assured p.a.[Rs.7,000 p.a in this case] can be claimed. However, the second scheme was not extended to SVRS retirees.

But the Rs.2.00 lac or the 7.00 lac limit for the entire life will be insufficient due to the heavy increase in the cost of surgery etc. In the new scheme of IBA, the limit of Rs.3.00 lacs or Rs.4.00 is per year [though we have to pay the premium every year]. 

Hence, the retirees of SBI and the Associates naturally expect the introduction of the IBA scheme for them also.

K. MOHANDAS RAO, SBM-VRS 2001

[Ashok Manel]

Dear Friends,

Can anybody clarify/interpret the meaning of the clause No.2.8 as under:

2.8  Contribution:

The Officers/employees will not share the cost of an indemnity claim on a ratable proportion from their personal Insurance  policies.

Regards,

Ashok Manel

9881061041

[Jagdish bhargava]

I find that even  BOI's existing swasthya Bima Yojna is much better than IBA's Medical insurance scheme.BOI should also ponder over the matter and try to opt out of the scheme.

 

J. K. Bhargava A-38 Minal Residency J. K. Road Bhopal M. P. 462023 Ph:(0755)2682058(H) 9424090339(M)

On Thursday, 24 September 2015 9:03 AM, PM <moha...@gmail.com> wrote:

Dear Nairji,

                               Yes.I have not included SBI and associate banks in the remaining bank's list.The reason being,as per earlier information from SBI unions it was gathered that their existing Health Policy is found better than that of  IBA's new Medi Claim Scheme,and hence they may prefer to opt out from present scheme.

Latest position is yet to be known.

On Thursday, 24 September 2015 08:50:17 UTC+5:30, velayudhan nair wrote:

Dear PMji, you left out SBI and Associates .We in SBT, eagerly wait for the circular.Any news/developments in SBI?

 

 

Warm reg

 

 

CPVNAIR

 

[SANTANU KUMAR DHAR]

Sir,

I received an SMS today which is given below. Can you enlighted the matter ?

" BOARD OF PSB TODAY IN ITS MEETING APPROVED MEDICLAIM POLICY FOR RETIRESS REVISED BY IBA AND DECIDED TO CHARGE A SUBSIDIZED PREMIUM OF Rs. 3750 ON 4 LACS FOR OFFICERS AND Rs.2760 ON 3LACS FOR WORKMEN"

If anyone can search into the matter and can confirm the authenticity.

Santanu Kumar Dhar

Bank of Baroda

gsant...@gmail.com

[babu]

Pl add Indian Bank to the above list

[cpvnair.nair]

There is another problem Raoji.When I availed VRS, I had put in only 29 years of service and hence was denied entry into REMBS.Result- I do not have any medical benefit other than health check up(Rs 1500 pm this year).So I eagerly wait for mediclaim circular in SBT.

 

As you observe, we get additional coverage of Rs 4 lacs p.a. at the cost of Rs 20 per day.Also pre existing illnesses covered.Even when there is REMBS like coverage of Rs 7 lacs for the whole life, State Bank group should ponder over offering this.They can even do it under SBI Life.ABROA,AIBRF and AIBPARC should talk to the State Bank of India management over this matter.

 

Warm reg

 

 

CPVNAIR

[bhaskara sarma]

SBI retirees already committed joining a scheme by paying huge amount of premium.I don't think that they have courage to introduce this scheme to other willing members Eventhough it is more beneficial to some sections of retirees.Our unions are very great in advising members not to opt for Pension without thinking of pros and cons.The rest is History.

P B Sarma.

[Yogendra kumar Gupta]

The premium so charging is very high. The subsidies to be provided by the bank to the retired.
Ykgupta
Allahabad Bank

[MLG]

  In SBI and associates management or the associations cannot adopt the existing medical scheme considering it more beneficial for them, because it deprive of the health insurance scheme to those retirees who cannot become the members of existing schemes because of their service in banks less than 30 years ( it may be more than 29 years).

Under the circumstances the idea of considering the which scheme is better should be left to the individual employees or all the retirees should be allowed to join the existing scheme irrespective of their service period. 

[Vaidyanathan Krishnamoorthy]

Corp Bank will be issuing the circular shortly

Krishnamoorthy

[Sushil Agarwal]

Attended a meeting organised by AIBOA (Maharashtra) to discuss the health insurance scheme for retiree employees . The gathering of retired employees was addressed by:
1. Shri Hariharan, DGM , United  India Insurance, HO, CHENNAI
2.  Shri Manek Dastoor of Dastoor & Co., advisors to IBA.

Take-aways from the discussions included:

1. The scheme is to be implemented from 01.11.2015.
2. Even though the banks have stipulated cut-off date for exercising option, a time window of 90 days (from the date of implementation)  will be available for a retiree to exercise his option in case he failed to do so within the cut-off date.
3. Once an employee opts out of the scheme, he/she will not be eligible to be covered under the scheme.
4. Spouse of a deceased retiree is eligible to be covered under the scheme.
5. Even though the scheme talks of "dependent" spouse, it was clarified that there is no income restrictions. Spouse is covered.
6. Sum assured cannot be increased by individuals.
7. In case the retiree expires, the spouse will be eligible for coverage under the scheme till his/her death.
8. All types of retirees are covered under the scheme.
9. Pre-existing diseases are covered.
10. In case both husband and wife are in the bank(s), both can opt for the scheme. For each of them coverage will be for the spouse also. Total coverage for the two together
will be the sum of their eligible coverage.(if both are officers, total cover will be Rs 8 lacs.
11. No age limit for being eligible for the scheme.

[Kanak Ghosh]

I am a VRS retiree in 2001. I put in over 30 years of service in officer cadre. What will be my position in the present scheme of things?

On 30 Sep 2015 09:23, "'MLG' via bankpensioner" <bankpe...@googlegroups.com> wrote:

[PM]

For Information of retirees of SBH.

                                  Among Associate Banks, State Bank of Hyderabad has issued circular Ref: No. PER/2015 - 16/50 Industrial Relations Dept, on 30-09-2015 to all its branches and administrative offices, on Implementation of Medical Insurance Scheme for Employees and Retirees of the Bank,details of which are available under Bank's website.

The last date for submission of willingness to join under the scheme is 15.10.2015.

Premium payable by retired staff would be as follows:

Category of Retired Employees Sum Insured Annual Premium payable

 Officers Rs.4.00 lacs Rs.6573-00 + Service Tax @14%

Clerical Rs.3.00 Lacs Rs.4930-00 + Service Tax @14%

Sub-Staff Rs.3.00 Lacs Rs.4930-00 + Service Tax @14% 

 

On Wednesday, 23 September 2015 18:21:45 UTC+5:30, PM wrote:

[JSOMA SHEKARA]

I have not opted for Medi claim Insurance at present as there is information that Canara Bank is going to reduce Premium as well as extending date for option.

jsomasekara

Canara Bank SVRS.

[Jagdip Shah]

Dear Friends

Canara Bank extends the date for submission of application to get enrolled under IBA Mediclaim Insurance Scheme. Date extended upto 20.10.2015. See attached Circular

With regards

Jagdip. Shah

Rajkot

[kotaru]

[Anantharaman Tg]

Dear Shri Kotaru,

Thanks for the attachments, particularly the Sept.28th circular of Union Bank

containing the clarifications given by IBA to the various queries of retirees.

Those opting for the new scheme will find this very useful.

Thanks, once again

Anantharaman

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[MohanRao Kandi]

Central Bank of india uploaded the scheme and format of application on bank's website.  last date 26/10/2015

[Arun Shukla]

hi

any news about  PNB having  issued   such  circular  /   details?

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