For Information of Corporation Bank Retirees:
REIMBURSEMENT OF HOSPITALISATION EXPENSES - MEDICAL INSURANCE SCHEME FOR OFFICERS/EMPLOYEES RETIRED ON VRS (INCLUDING CBOESVRS-2002), RESIGNEES ETC.
Kindly note that Corporation Bank has issued a new Circular today bearing Circular No. 699/2015, of HRM,PADivn, Index No. 19.00/34/2015,(dated 09-November-2015) in continuation of earlier Cir 624/15 dated 3.10.15, on Medi Claim Insurance Scheme,introduced as per IBA under 10th BPS/JN dt 25.5.15.
Quote:
"1. A reference may please be made to our H.O. Circular No.624/2015 dated 03.10.2015, wherein detailed guidelines about the implementation of the IBA Medical Insurance Scheme for Officers/Employees have been communicated. It has also been informed therein that the said Scheme would also cover the existing retired Officers/Employees of the Bank, who retired on superannuation and their dependent spouse also, subject to the payment of stipulated premium by them.
2. We are pleased to inform that the Competent Authority has since approved our proposal to include the following categories of persons also, to join the said Medical Insurance Scheme, subject to payment of stipulated premium by them as notified by the Insurance Company from time to time. They shall also be governed by the Scheme guidelines formulated by IBA in this regard.
a) Officers/Employees retired from the services of the Bank, on VRS (including CBOESVRS – 2002)
b) Officers/Employees retired on medical grounds irrespective of period of service.
c) Officers/Employees who have resigned from the services of the Bank after serving the Bank, for a minimum period of 15 years ;
d) Widow/Widower of the retired Officer/ Employee and Widow/Widower of the Officer/Employee, who has expired while in service and also Widow/widower of the Officer/Employee retired on medical ground.
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All eligible persons desirous of joining the scheme shall submit the duly completed Consent/Authority Letter, to the Branch Head of the Pension drawing Branch, if they are drawing Pension.
Other categories of persons shall submit the said letter to the Branch where they are maintaining their S.B/other accounts.
The last date for submitting the option letter is 14.12.2015. Format of consent letter is also available on the Bank’s website- Retirees Corner.
Copy of latest circular of Bank is attached here below for details.