IBA GROUP MEDI INSURANCE PREMIUM - 2021-2022 GOES UP

[PM]

Dear Friends,

                   

Dear Friends,

        IBA GROUP MEDI INSURANCE PREMIUM FOR 2021-2022  HAS BEEN INCREASED.

PLEASE SEE THE CIRCULAR OF IBA :

   HR & INDUSTRIAL RELATIONS

HR&IR/MBR/MEDINS/10340 September 17, 2021

MD & CEOs of all member banks party to 11h Bi-partite Settlement/8th Joint Note signed on 11.11.2020

Dear Sir/Madam.

Renewal of Group Medical Insurance Policy for Bank Retirees for the year 2021-22

Further to our letter HR&IR/MBR/MEDINS/10257 dated 24.08.2021, informing about the renewal quotes of premium to be paid for the Employees' Group Medical Insurance Policies. please find the Retirees premium for the same, for the Year 2021-22, arrived at through the RFP Process and approved thereafter by the Managing Committee of IBA

PL SEE ATTACHMENT

[mohan p]

Dear Friends,   Just to have an idea on what would be the increase in IBA Medi Insurance Premium (2021-22)including GST is furnished here under. How many of us can afford the revised premium? RENEWALPREMIUM
IBA GROUP MEDI INSURANCE PREMIUM 2021-2022
	WORKMEN	/OFFICERS	W.MEN	OFFICERS
without Domiciliary			With Domiciliary
Premium	28715	36652	55175	72917
(excl.GST)
Incl.GST	33884	43249	65107	86042

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[Harish Midha]

For even a person in MMG-II, who is getting pension under 6th BPS, even two months pension would fall short for paying this premium WITHOUT DOMICILIARY benefit.  

What a sad state of affairs.

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[Kalyanasundaram Subramaniam]

For domiciliary  cover premium is more than the coverage. Making fool of us. Last year also it was  like this. 

S Kalyanasundaram 

[JSOMA SHEKARA]

First of all agreeing in 2015 that retirees have to bear 100% of the premium

is the biggest blunder and anti retirees agreement. If UFBU had sternly refused IBA proposal then IBA would have

at least would have agreed to bear some portion of the premium by Banks.

After that UFBU never seriously took up issue with IBA so that Banks shall bear 50% 0f premium.

UFBU in 2005 agreed that those who are getting more pension and salary will get 100% DA

and those getting meagre pension  do not deserve it.

In 2015 again UFBU agreed that employees who are getting  upto 1 lakh salary need not not pay any premium

and pensioners getting Rs.10000 as pension have to pay Rs.24000 premium.

These leaders now pose as saviours of Farmers.

All fake leaders.

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[PM]

FOR INFORMATION:

AIBEA has written a letter to Convenor, UFBU, on IBA Group Medi Insurance Renewal Premium, vide.GS/2021/135 18-9- 2021

To
"Com. Sanjeev K Bandlish.
Convener ,
United Forum of Bank Unions ,
Chandigarh .

Dear Comrade,

Renewal of Group Medical Insurance Policy for retirees

As you are aware, the Group Medical Insurance Policy for retired employees/officers has to be renewed for the next year i.e. from the 1st of November, 2021 to 31st October, 2022.

We have gone through the IBA communication to the Banks dated 17-9-2021 informing them of the revised premium rate for renewal of the Policy payable by the retirees.

We observe that the rate of premium has been hiked by 40% for retired workmen and 34% for retired officers. Without Domiciliary With Domiciliary Workmen Officer Workmen Officer Sum Assured
3 lacs 4 lacs 3 lacs 4 lacs Premium for 2020-21 20,508 + GST 27,342 + GST
50,893 + GST 67,853 +

GST Premium for 2021-22 28,715 + GST 36,652 + GST 55,175 + GST 72,917 + GST

As mentioned in the IBA Circular, the increase in premium is on account of the increase in Incurred Claim Ratio by 147% under Without Domiciliary Policy and 163% under With Domiciliary Policy. This higher claim ratio is because of the abnormal charges levied by the hospitals during this period particularly for covid treatment. Since these increased premium rates will be unaffordable to many retirees, there is a need to take up the issue with IBA for reduction in premium and suggesting changes in the Retirees Policy like bed charges, cap on reimbursement on certain treatments, etc. so that the Insurance Company can reduce the premium rates.

We request you to seek the views of the constituent Unions in this regard so that UFBU can take up the matter accordingly.

With greetings,

Yours comradely,
C.H.VENKATACHALAM
GENERAL SECRETARY"

[Raj Venkat]

This a secondary issue purposely taken by The leader to waste time.

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[Anantharaman Tg]

IBA wants Banks to inform for the 'smooth renewal of

retirees' policies' knowing that it has been never smooth

for the retirees since the beginning!

The premiums (mentioned without GST) is as usual,

very high troubling each and every retiree especially

in the advancing years. 

There is no consideration for the appeals to IBA by

different associations on the alarming rise in the

premium every year.

That much for the welfare of retirees.

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