MASTER MEDI CLAIM POLICY FOR BANK EMPLOYEES WILL BE ISSUED BY AUG 31st.

[PM]

For Information:

                                          

                                   All state-run general insurers are likely to issue a master mediclaim policy for bank employees through Indian Banks Association (IBA) by this month end.
As per the new wage agreement reached between bank unions and the IBA on May 25, employees of all the 43 member banks are to be provided with a health insurance cover by their respective banks.
"Our discussions are on with the IBA on the health insurance cover for bank employees as part of the wage pact," New India Assurance chairman and managing director and chairman of General Insurers (Public Sector) Association (GIPSA) chairman G Srinivasan told PTI.

However, he refused more details saying "things are still on the drawing board."
"This is for the first time a proper health insurance policy is being worked out by banks for their employees," he added.
The IBA comprises 25 state-owned banks, 11 old-generation private sector banks and seven foreign banks which employ 10 lakh employees apart from 3 lakh retirees.

"The master policy to be issued for employees,officers and  retirees of member banks, by month-end will cover the domissory treatment, minor and major surgeries," an IBA official said.
Chennai-based United India Insurance is the lead insurer for the scheme.

"We have made United India Insurance as the lead insurer while the other three will act as co-insurers in this case and we have decided to provide health insurance cover with a ceiling of Rs 3 lakh in case of workmen and Rs 4 lakh in case of bank officers," the IBA official said.
"The premium to be paid by banks will be around Rs 6,000 per annum in case of officers and Rs 5,000 in case of employees," he added.

The 10th bipartite wage agreement agreed to introduce a social security scheme in the form of reimbursement of hospitalisation expenses up to Rs 5 lakh, which include all dependent and family members of the bank employee.
Already medical aid is covered in the 15% wage hike, and the new health scheme will ensure 100% reimbursement in case of hospitalisation.

-Business Standard 2nd Aug 2015.

Note:

( In case of retirees the premium has to be paid by themselves as per settlement)

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[PM]

For Information:

                             Implementation of Medical Insurance Scheme for the Retired Officers/

                             Employees of IBA member Banks which are parties to the Bipartite

                             Settlement / Joint Note dated 25th May, 2015

                                                         As a part of the recently concluded 10th BPS/ Joint Note dated 25th May, 2015, a Medical Insurance Scheme in lieu of existing Hospitalization Scheme for the Officers/Employees is to be introduced by the Indian Banks’ Association.

                                                        As we are aware, it has been decided by both the parties that, the said Medical Insurance Scheme will be extended to the existing retirees also, subject to payment of the agreed premium by them.

                                                        As per settlement,each bank will have to  inform its retirees,  the details of above Medical Insurance Scheme so as to enable the retirees; those who are willing to join the scheme, to submit their consent with relevant details on self as well as his dependent spouse  to their banks within time stipulated by such banks, for onward submission the over all data to Insurance company for calculation of premium.

                                                        As per information available some banks have already started sending  such letters to its retirees. It is also to be noted that where ever banks are having better schemes same may be continued.

[Vvns Varaprasadrao]

Though there is no remarkable achievement by UFBU in respect of Retirees/Pensioners during 10th BPS,  while formulating medical Insurance scheme to all the employees and retirees of IBA memeber Banks,  UFBU instead of taking corrective steps gave another slap on the cheek of the Retirees by pushing them to meet the premia payable by themselves.

Varaprasad.

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[OM PRAKASH SHARMA]

Dear PM

Kindly inform if VRS Retirees of 2001 ( Scheme of GOI) are also
eligible for this Medi claim Policy.

O.P. SHARMA

On 8/2/15, PM <moha...@gmail.com> wrote:
> For Information:
>
>
> All state-run general insurers

> <http://www.business-standard.com/search?type=news&q=General+Insurers>are

> likely to issue a master mediclaim

> <http://www.business-standard.com/search?type=news&q=Mediclaim>policy for

> bank employees through Indian Banks Association (IBA) by this month end.
> As per the new wage

> <http://www.business-standard.com/search?type=news&q=Wage>agreement reached

>
> between bank unions and the IBA

> <http://www.business-standard.com/search?type=news&q=Iba>on May 25,

> employees of all the 43 member banks are to be provided with a health
> insurance

> <http://www.business-standard.com/search?type=news&q=Insurance>cover

> by their respective banks.
> "Our discussions are on with the IBA on the health insurance

> <http://www.business-standard.com/search?type=news&q=Health+Insurance>cover

>
> for bank employees as part of the wage pact," New India Assurance chairman
> and managing director and chairman of General Insurers (Public Sector)
> Association (GIPSA) chairman G Srinivasan told PTI.
>
> However, he refused more details saying "things are still on the drawing
> board."
> "This is for the first time a proper health insurance policy is being
> worked out by banks for their employees," he added.
> The IBA comprises 25 state-owned banks, 11 old-generation private sector
> banks and seven foreign banks which employ 10 lakh employees apart from 3
> lakh retirees.
>

> "The master policy to be issued for* employees,officers and retirees of
> member banks, by month-end* will cover the domissory treatment, minor and

> major surgeries," an IBA official said.
> Chennai-based United India Insurance is the lead insurer for the scheme.
>
> "We have made United India Insurance as the lead insurer while the other
> three will act as co-insurers in this case and we have decided to provide
> health insurance cover with a ceiling of Rs 3 lakh in case of workmen and
> Rs 4 lakh in case of bank officers," the IBA official said.

> * "The premium to be paid by banks will be around Rs 6,000 per annum in
> case of officers and Rs 5,000 in case of employees,"* he added.

>
> The 10th bipartite wage agreement agreed to introduce a social security
> scheme in the form of reimbursement of hospitalisation expenses up to Rs 5
> lakh, which include all dependent and family members of the bank employee.
> Already medical aid is covered in the 15% wage hike, and the new health
> scheme will ensure 100% reimbursement in case of hospitalisation.
> -Business Standard 2nd Aug 2015.
>
> Note:
> ( In case of retirees the premium has to be paid by themselves as per
> settlement)

> *Advertisement:* *Replay Ad*

[cpvnair.nair]

Very true.If the premia is remitted by the retirees, what is the benefit?If the three lacs organized retirees(as appear in the AIBRF circ reg 28^th meet) form a group and bargain for health insurance with any PUBLIC SECTOR GENERAL INSURER, we may get a fair deal.This would be better in case we remit the premia. UFBU perhaps perceived us to be beggars , not capable of remitting the medi insurance premia.Wait till Jan 2016 till the CPC report comes.Then this UFBU will witness a revolt among its rank and file  for the poor bargaining for employees and NO BARGAINING for retirees.The difference between the bank and CG employees would become huge by 2016.

 

 

Warm reg

 

 

CPVNAIR

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[Sureshbhat M]

DEAR FRIENDS  

Again IBA bullied UFBU members by introducing Insurance coverage of Rs. 3 lakhs and Rs.  4lakhs  to all employees INSTEAD of  5 Lakhs as agreed in X BPS.

With regars

Suresh bhat M

--

[Kavya Guntupalli]

Thanks to UFBU for their failure in all fronts.

[bhaskara sarma]

In LIC ,only 25 percent premium is paid by retirees and the rest is borne by LIC.

P B Sarma.

[mohan p]

Dear Mr Om Prakash Sharma,

                                                     As per 10th BPS/Joint note dt 25th May 2015,signed between Bank Unions and IBA,Medical Insurance Policy scheme is applicable to existing retirees on payment of premium by retirees.

                                                   SVRS employees of 2001 also comes under retirees. Let us hope that IBA will not come later with further interpretations on retirees as done under 9th BPs/JN.

[Chandran Wilson]

Dear Sirs,  

Indian Bank pays to their Retired Officers

1. Medical allowance without furnishing any bills - just certifying  Rs.4000/- p a.

2. On submission of bills for tests  Rs.3500/4500  p a

3. Reimburse premia amount for mediclaim policy upto Rs.2.00 Lakhs (about Rs.5500)

Under this circumstances whether Indian Bank could pay for domicilary treatment - in the event

of premia amount paid by retirees   -  chandran

[JSOMA SHEKARA]

UNITED FAILURE OF BANK UNIONS

[Sureshbhat M]

Dear Friends

 I have a medi claim policy of United Insurance through Canara Bank. For a policy of THREE lakhs last year I paid about Rs. 4800/- and this year it is Rs. 5307/- (rise due to increase in ST).  

      The UFBU linked policy may cost much more than Rs. 5700/- as the premium they refer is excluding ST. What is the discount Banks got through collective bargaining for huge premium amount ?

     WHO IS THE BENEFICIARY OF AGENT COMMISSION ?

With regards

[Rishikesavan Sadhasivan]

Chandra sir, it is for superannuation people only not for svrs2001 Rishikesavan Ib vrs2001 Sent from Yahoo Mail on Android From:"Chandran Wilson" <dwcha...@gmail.com> Date:Mon, 3 Aug, 2015 at 5:09 pm Subject:Re: bankpensioner MASTER MEDI CLAIM POLICY FOR BANK EMPLOYEES WILL BE ISSUED BY AUG 31st.

[PSN Moorthy]

Dear Mr.  CPV Nair,

I normally read and appreciate your views regarding issues of retirees / pensioners.

But I  beg to disagree with your views on proposed medeclaim  policy for  pensioners.

Though UFBU has ditched  / cheated retirees / pensioners in this BPS on almost all issues, 

still we should encourage pensioners to opt for the medeclaim policy for the following reasons.

1- Hospitalisation  reimbursement facility is very much required for all pensioners  and  becomes

 more relevant & essential as age advances.

2- Annual premium to be paid by a pensioner is very reasonable ( may be around Rs. 2,000  to  Rs. 3000 )

compared to the amt of annual premium  (  around Rs. 20,000 ) to be paid for a standard medeclaim policy

 if taken by us directly / individually for the same assured amt.

3- When we go for a direct medeclaim policy at this age, we will have to face many negative clauses 

like  a) medical examination is required. b) Existing illness are not covered for a good number of years, Etc, Etc.

These things are avoided completely  and not a hindrance at all while taking Bank 's medeclaim policy.

In my humble opinion, as matured senior citizens, we should not allow our anger against UFBU to come

in the way of opting for  Bank's medeclaim policy, which is very very essential for all of us.

 After all, the medeclaim policy  facility is offered by Banks to us  and not by UFBU.

With Regards & wishing  good health to all,

P.S.N. Moorthy,

Retired Manager , Vijaya Bank,

Coimbatore

rom: cpvnair.nair <cpvnai...@gmail.com>

To: bankpe...@googlegroups.com
Sent: Monday, 3 August 2015 10:47 PM
Subject: RE: bankpensioner Re: MASTER MEDI CLAIM POLICY FOR BANK EMPLOYEES WILL BE ISSUED BY AUG 31st.

[Kavya Guntupalli]

Sharma garu,LIC does not have leaders like IFBU

[cpvnair.nair]

Hi dear and respected Shri Moorthy,

 

I totally agree with you.WE MUST OPT IF GEVEN A FAIR CHANCE.My only point is that UFBU should have AT LEAST grabbed this for the retirees, free of premia.

 

Thank you Sir, for your kind response.I always go through your valuable points/comments.Please go ahead with the noble work of serving the retirees including you and me through words.

 

 

Warm reg

 

 

CPVNAIR

[bhaskara sarma]

Dear PSN Murthy Garu,

I agree with you.Anyway let the scheme come in its full form.Then depending upon the premium and other conditions we can take a decision.In any case a Group Health Insurance policy is always better than an Individual policy.

With regards,

P B Sarma.

[Satish Bhatnagar]

PM sir,

Whether Canara bank has issued any circular with regards to Master Medi Claim policy for retirees and whether VRS retirees are also eligible.

Please inform me if any circular has been issued by Canara Bank.

SC BHATNAGAR

VRS from Canara Bank.

[mohan p]

Dear Mr Sathish Bhatnagar,

                                              As per available information Allahabad Bank has issued a circular on 25th July'15.on Medi claim Insurance to its retirees as per terms of 10th BPS/Joint note dt 25th May 2015.Other banks are yet to follow as per IBA guidelines,in this regard,

                                              For your information:The above Bank has given a format  to submit details of retirees /dependent spouse who are willing to join in above scheme, with instruction to sent by 17th August 2015 to its HO,for onward transmission to Insurance Company for calculation of premium.

                                             Here the pertinent point  to be noted is  is that as far as employees are concerned the premium of such policy will be borne by Banks itself ,and as such they can accept the same even if premium is Rs 5000 to 6000 range for policies of Rs 3 lakhs and Rs.4 lakhs for clerical/officer staff respectively. 

                                             Where as  in case of retirees same has to be paid by themselves as per agreed scheme.Further only after sending the acceptance letter to Bank,and later to Insurance company the exact premium would be known by retirees which depend on data submitted on number of retirees etc to insurance company.

                                             As per format of above bank retirees has to "accept that the Bank is in no way responsible for payment of any amount under the scheme except what is admissible /payable by the Insurance Company."

                                             As per settlement/JN  the scheme is applicable to existing Retirees also  and not made any specific clause as superannuation or VRs etc.Hence it is applicable to VRS/SVRS retirees too.(since banks are not making any payment towards retirees)

                                                 Each bank will send similar letters to retirees  shortly and wait for the same.

[satyendra kumar bansal]

Is there any circular has been issued by Syndicate Bank..

Satyendra Bansal, (SVRS Synd Bank )
77, Vivek Vihar, New Sanganer Road,
Sodala, Jaipur-302019

---

From: Satish Bhatnagar
Sent: ‎04-‎08-‎2015 22:40
To: bankpe...@googlegroups.com

[Gandhari, G. (Gopal)]

Hello Mr. Nair ji,

 

Please don’t ever imagine and think of UFBU that they are going to help us.

We are well aware that they are the traitors and they betrayed us.

 

Let us stand on our own and fight for justice.

 

Kind Regards

Gopal Rao Gandhari

********************
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the names of the Nedbank Board of Directors and Company Secretary.
[ http://www.nedbank.co.za/terms/DirectorsNedbank.htm ]
This email is confidential and is intended for the addressee only.
The following link will take you to Nedbank's legal notice.
[ http://www.nedbank.co.za/terms/EmailDisclaimer.htm ]
********************

[Ganesh Sethuraman]

Sir,kindly inform whether vrs retirees of indian bank are also eliigible for the mediclaim.

---

From: Gandhari, G. (Gopal)
Sent: ‎06-‎08-‎2015 20:45
To: bankpe...@googlegroups.com
Subject: RE: bankpensioner Re: MASTER MEDI CLAIM POLICY FOR BANK EMPLOYEESWILL BE ISSUED BY AUG 31st.

[The entire original message is not included.]

[Dina Nath Chaudhari]

rstap...@gmail.com

--

[Padmanabhan R]

As per my understanding..all are covered.

[PM]

Dear Fiends,

                                              As per the 10th BPS/7th Joint note,as we are aware, existing retirees have to pay the premium on Medi Claim Insurance policy,by themselves, which will be decided by the Insurance companies/Banks depending upon the number of retirees willing to join in above scheme in each bank.

                                              IBA advised all banks to intimate all retirees on details of  the above  scheme in order to get their consent in joining the scheme.Most of the banks are yet to send this information to retirees. 

                                             As per information available right now only two Banks have communicated retirees in this regard ie.1.Allahabad bank and 2.Andhra bank.In case of former they have not informed the proposed premium on the policy and found stated that it will be decided by Insurance company on receipt of willingness letter from retirees depending on number of retirees /data.Where as Andhra Bank has intimated  the details of premium as Rs 6573 for retiree Officers and Rs.4930 for others for  policies of Rs.4 lakhs and Rs 3 lakhs respectively.

                                            Corporation bank Retirees Association has already taken up the matter with their HO with a request to consider the payment of premium of its retirees from Staff Welfare Fund.Also understand that some other Banks too expressed the views on same line. It is yet to be seen ,how bank management would respond on such request. 

                                             Mean time good number of retirees have found expressed their apprehensions on inclusion of VRS/SVRS retirees under this scheme. In agreed settlement it is stated as "Existing Retirees" and there should not have any doubt on term used which should include all retirees. Any how each retiree from all banks will be receiving letters from their banks soon and they can very well confirm the same.

[JSOMA SHEKARA]

Canara Bank is already reimbursing medical expenses of  Rs.2500/- every year to all retirees including SVRS and there is also a provision to utilize this portion to pay premium for Medical Insurance Policy. I think the same will continue.

--

[Ganesh Nagar]

Can any one inform implementation of said policy in central bank of india

--

[Venkatarao Lb]

It for resigned employees also as per andhra bank circular

--

[Ashok Chander Sharma]

Dear friend,

Please advise whether Resignees and Compulsory Retired officers / employees are covered under the Master Mediclaim Policy since some banks are refusing to cover such officers / employees under the said policy.

Ashok Chander Sharma

---

Date: Fri, 7 Aug 2015 20:38:23 -0700
From: moha...@gmail.com
To: bankpe...@googlegroups.com
Subject: bankpensioner Re: MASTER MEDI CLAIM POLICY FOR BANK EMPLOYEES WILL BE ISSUED BY AUG 31st.

[mohan p]

Dear Mr Ashok Chander Sharma,

                                                                 It is premature to come to any conclusion now on coverage of Resignees/CRS retirees under Medi Claim Insurance Policy,as of now, since only two banks have found issued circular on this subject requesting retirees to submit their willingness to join under the scheme.Any refusal or rejection of retirees  letters are yet to be known.

                                                                 As per settlement, benefits of  Medi Claim Policies issued to employees are extended to "EXISTING RETIREES" also and above two banks  have issued circulars as per IBA guidelines. In case of retirees the entire premium is paid by themselves.

                                                                

                                                                

                                                                  

[C.RAJAGOPALAN]

Dear Sharma,

                                 It is likely that Banks my cover all retirees for medi claim policy since Banks do not stand to loose anything as the  premium  is to be borne by the  retirees. The more the number of retirees the lesser will be the premium. The objection from Banks may arise if premium is subsided by them

 

C Rajagopalan

Syndicate Bank SVRS retiree

[Anantharaman Tg]

I think the doubts of members on the eligibility for the Group Insurance (Mediclaim policy) is but natural in view of the subsequent stand took by IBA when the second option for pension was introduced and they kept aside some groups.

Anantharaman

[PM]

Dear Friends,

                                  Few members have requested for details of the insurance scheme. For the information and ready reference a copy of Medi Claim Insurance scheme,agreed under 10th BPs/7th Joint Note dt 25th May 2015, between Unions and IBA is attached here below.

Kindly note that all retirees  will get full details on policy shortly from their banks.

[vijayavittal mulbagal]

The so called new concept suggested by the IBA is nothing new. OUr Syndicate bank has that scheme since 10 years with a tie up with UII co ltd

In God Do We Trust
M.Vijaya Vittal
202,Keerthi Bhadra Apts,
Gokhale Nagar,
Ramanthapur,

Hyderabad..500 013.Ph:040-27034622
AP Mob. 099637 46222

From: "C.RAJAGOPALAN" <ci...@bsnl.in>
Sent: Sun, 09 Aug 2015 14:12:14
To: <bankpe...@googlegroups.com>

Subject: Re: bankpensioner MASTER MEDI CLAIM POLICY FOR BANK EMPLOYEES WILL BE ISSUED BY AUG 31st.

Dear Sharma,

                                 It is likely that Banks my cover all retirees for medi claim policy since Banks do not stand to loose anything as the  premium  is to be borne by the  retirees. The more the number of retirees the lesser will be the premium. The objection from Banks may arise if premium is subsided by them

 

C Rajagopalan

Syndicate Bank SVRS retiree

 

 

 

From: bankpe...@googlegroups.com [mailto:bankpe...@googlegroups.com] On Behalf Of mohan p

Sent: Sunday, August 09, 2015 9:20 AM
To: bankpensioner google

Subject: Re: bankpensioner Re: MASTER MEDI CLAIM POLICY FOR BANK EMPLOYEES WILL BE ISSUED BY AUG 31st.

 

Dear Mr Ashok Chander Sharma,

                                                                 It is premature to come to any conclusion now on coverage of Resignees/CRS retirees under Medi Claim Insurance Policy,as of now, since only two banks have found issued circular on this subject requesting retirees to submit their willingness to join under the scheme.Any refusal or rejection of retirees  letters are yet to be known.

                                                                 As per settlement, benefits of  Medi Claim Policies issued to employees are extended to "EXISTING RETIREES" also and above two banks  have issued circulars as per IBA guidelines. In case of retirees the entire premium is paid by themselves.

                                                                

                                                                

 

 

                                                                  

On Sun, Aug 9, 2015 at 12:40 AM, Ashok Chander Sharma <asho...@hotmail.com> wrote:

Dear friend,

 

Please advise whether Resignees and Compulsory Retired officers / employees are covered under the Master Mediclaim Policy since some banks are refusing to cover such officers / employees under the said policy.

 

Ashok Chander Sharma

---

Date: Fri, 7 Aug 2015 20:38:23 -0700
From: moha...@gmail.com
To: bankpe...@googlegroups.com
Subject: bankpensioner Re: MASTER MEDI CLAIM POLICY FOR BANK EMPLOYEES WILL BE ISSUED BY AUG 31st.

Dear Fiends,

 

                                              As per the 10th BPS/7th Joint note,as we are aware, existing retirees have to pay the premium on Medi Claim Insurance policy,by themselves, which will be decided by the Insurance companies/Banks depending upon the number of retirees willing to join in above scheme in each bank.

                                              IBA advised all banks to intimate all retirees on details of  the above  scheme in order to get their consent in joining the scheme.Most of the banks are yet to send this information to retirees. 

                                             As per information available right now only two Banks have communicated retirees in this regard ie.1.Allahabad bank and 2.Andhra bank.In case of former they have not informed the proposed premium on the policy and found stated that it will be decided by Insurance company on receipt of willingness letter from retirees depending on number of retirees /data.Where as Andhra Bank has intimated  the details of premium as Rs 6573 for retiree Officers and Rs.4930 for others for  policies of Rs.4 lakhs and Rs 3 lakhs respectively.

                                            Corporation bank Retirees Association has already taken up the matter with their HO with a request to consider the payment of premium of its retirees from Staff Welfare Fund.Also understand that some other Banks too expressed the views on same line. It is yet to be seen ,how bank management would respond on such request. 

                                             Mean time good number of retirees have found expressed their apprehensions on inclusion of VRS/SVRS retirees under this scheme. In agreed settlement it is stated as "Existing Retirees" and there should not have any doubt on term used which should include all retirees. Any how each retiree from all banks will be receiving letters from their banks soon and they can very well confirm the same.

 

                                              

 

 

 

 

 

 

 

On Sunday, August 2, 2015 at 9:07:56 PM UTC+5:30, PM wrote:

For Information:

 

 

 

                             Implementation of Medical Insurance Scheme for the Retired Officers/

                             Employees of IBA member Banks which are parties to the Bipartite

                             Settlement / Joint Note dated 25th May, 2015

 

                                                         As a part of the recently concluded 10th BPS/ Joint Note dated 25th May, 2015, a Medical Insurance Scheme in lieu of existing Hospitalization Scheme for the Officers/Employees is to be introduced by the Indian Banks’ Association.

                                                        As we are aware, it has been decided by both the parties that, the said Medical Insurance Scheme will be extended to the existing retirees also, subject to payment of the agreed premium by them.

                                                        As per settlement,each bank will have to  inform its retirees,  the details of above Medical Insurance Scheme so as to enable the retirees; those who are willing to join the scheme, to submit their consent with relevant details on self as well as his dependent spouse  to their banks within time stipulated by such banks, for onward submission the over all data to Insurance company for calculation of premium.

                                                        As per information available some banks have already started sending  such letters to its retirees. It is also to be noted that where ever banks are having better schemes same may be continued.

 

 

 

                              

 

 

 

 

 

 

 

 

 

 

On Sunday, August 2, 2015 at 8:11:20 PM UTC+5:30, PM wrote:

For Information:

                                          

 

                                   All state-run general insurers are likely to issue a master mediclaim policy for bank employees through Indian Banks Association (IBA) by this month end.
As per the new wage agreement reached between bank unions and the IBA on May 25, employees of all the 43 member banks are to be provided with a health insurance cover by their respective banks.
"Our discussions are on with the IBA on the health insurance cover for bank employees as part of the wage pact," New India Assurance chairman and managing director and chairman of General Insurers (Public Sector) Association (GIPSA) chairman G Srinivasan told PTI.

However, he refused more details saying "things are still on the drawing board."
"This is for the first time a proper health insurance policy is being worked out by banks for their employees," he added.
The IBA comprises 25 state-owned banks, 11 old-generation private sector banks and seven foreign banks which employ 10 lakh employees apart from 3 lakh retirees.

"The master policy to be issued for employees,officers and  retirees of member banks, by month-end will cover the domissory treatment, minor and major surgeries," an IBA official said.
Chennai-based United India Insurance is the lead insurer for the scheme.

"We have made United India Insurance as the lead insurer while the other three will act as co-insurers in this case and we have decided to provide health insurance cover with a ceiling of Rs 3 lakh in case of workmen and Rs 4 lakh in case of bank officers," the IBA official said.
"The premium to be paid by banks will be around Rs 6,000 per annum in case of officers and Rs 5,000 in case of employees," he added.

The 10th bipartite wage agreement agreed to introduce a social security scheme in the form of reimbursement of hospitalisation expenses up to Rs 5 lakh, which include all dependent and family members of the bank employee.
Already medical aid is covered in the 15% wage hike, and the new health scheme will ensure 100% reimbursement in case of hospitalisation.

-Business Standard 2nd Aug 2015.

 

Note:

( In case of retirees the premium has to be paid by themselves as per settlement)

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[Soumitra Mukherjee]

THIS YEAR I HAVE TAKEN A FLOATING FAMILY HEALTH POLICY OF RS. 5 LAKHS FOR ME AND SPOUSE (AS WE HAVE NO ELIGIBLE CHILD OR PARENT) AS CANMEDICLAIM POLICY OF UII CO.LTD. AS AN ORDINARY SAVINGS CUSTOMER OF CANARA BANK COSTING RS.7843/= ONLY. SO, THE OFFER OF IBA THROUGH UFBU IS AT FLAT MARKET RATE ONLY EARNING SOME COMMISSION FOR BANK, WHICH IS BEING CLAIMED AS A GREAT ACHIEVEMENT FOR RETIREES BY UFBU. SOUMITRA MUKHERJEE, CANARA BANK VRS 2011 KOLKATA.

[PSN Moorthy]

Dear Soumitra Mukherjee,

With all due respects to you , I would like to point out that what you have stated is  completely wrong.

It is true that IBA / UFBU did not meet any major demands of Retirees and we are all  disappointed / feel cheated.

 But the group mediclaim policy offered by Banks to retirees is definitely a very good step for welfare of 

retirees. As age advances  the requirement of a mediclaim policy is very essential for retirees.

Though UFBU has ditched  / cheated retirees / pensioners in this BPS on almost all issues, 

still we should encourage pensioners to opt for the mediclaim policy for the following reasons.

1- Hospitalisation  reimbursement facility is very much required for all pensioners  and  becomes

 more relevant & essential as age advances.

2- Annual premium to be paid by a pensioner is very reasonable ( may be around Rs. 2,000  to  Rs. 3000 )

compared to the amt of annual premium  (  around Rs. 20,000 ) to be paid for a standard mediclaim policy

 if taken by us directly / individually for the same assured amt.

3- When we go for a direct mediclaim policy at this age, we will have to face many negative clauses 

like  a) medical examination is required. b) Pre -Existing illness are not covered for a good number of years, Etc, Etc.

These things are avoided completely  and not a hindrance at all while taking Bank 's medeclaim policy.  Moreover

we get a floating  policy for self & spouse / dependants.

4- Regarding  Subsidised policy offered to bank customers (  like yours taken  as a bank customer),

I had very bitter experience earlier.   I had shared this information earlier in this blog.   I am copying

that herebelow for your information

In my humble opinion, as matured senior citizens, we should not allow our anger against UFBU to come

in the way of opting for  Bank's medeclaim policy, which is very very essential for all of us.

 After all, the medeclaim policy  facility is offered by Banks to us  and not by UFBU. 

We  all .should not miss this opportunity  and we should not create unnecessary doubts / apprehension

in minds of reirees.

With Regards & wishing  good health to all,

P.S.N. Moorthy,

Retired Manager , Vijaya Bank,

Coimbatore

Copy of earlier mail

BEWARE of Medi claim policies through Bank Tie-ups offered to a/c holders by Banks.

 
• 12 Dec 2014

To

Friends,

I would like to share the experience of myself and few of my friends as it may be helpful to others.

From my personal experience , I feel we should never go for the normal Bank tie-up  medi claim policies

of Insurance cos with low premiums offered to Bank customers /  account holders through Banks . 

Instead go for Health policy for staff /  Pensioners, if available in your respective Banks. We should keep in mind that 

Health policies are to be taken for life time , with regular timely renewals  and not just for few years. The requirement

of  Health policy is more , as age advances.

I had taken a V- Arogya medi claim policy of National insurance co in my wife's name through Vijaya Bank tie -up in 2006 for Rs.5,00,000 ( five lakhs )

for  attractive total  annual premium of about Rs. 7,000  for self and family ( self,  wife & 2 children ). It was offered to all Vijaya Bank a/c holders.

After renewing for about 4 years regularly in time, the bank- insurance co tie- up was suddenly discontinued for their own

reasons & for their convenience without any information to policy holders. On enquiring with Bank, they advised that tie-up is cancelled

and hence policy holders have to contact National Insurance co directly and get the policy renewed . Where as,  the National insurance co

was not interested in renewing V-Arogya policies and was discouraging me from renewing that, They were stating that premium is  low and

hence they are not interested in renewing V-Arogya policies.. Most of the V-Arogya customers stopped renewing as they faced a hostile situation

 at insurance offices and due to this difficulty they were all indirectly driven to discontinue the  V-Arogya policies.  I did not give up so easily and

 after lot of arguments,   correspondence with National insurance co , I use to get it renewed everytime  with difficulty, till now as per the original premium rate.

Now recently I received a official letter from National Insurance co informing that they are  discontinueing the  V-Arogya policies , duly

obtaining permission from IRDA .   Hence I can not renew  the V-Arogya policy now onwards.  They  have kept an escape clause in that letter

that I  can get the policy renewed under some other present scheme with continuation of benefits like pre-existing illness, etc .  But on enquiry I was

told  that the premium for 5 lakh medi claim policy may be around  Rs. 30,000 or much more , agaist the original premium of about 7,000.

Hence they are  indirectly forcing  me to discontinue the policy and lose the benefits of 8 years regular timely renewal.

Hence at this age,  I am compelled to look for some other Health policy  again  & my bank is not having any health insurance scheme at present for

pensioners..

Hence my sincere suggestion is to avoid bank tie-up health  policies offered to customers / account holders by Banks.

Wishing you all GOOD HEALTH,

P.S.N.  Moorthy

Retd Manager, Vijaya Bank

---

From: Soumitra Mukherjee <soumi...@gmail.com>
To: bankpe...@googlegroups.com
Sent: Tuesday, 11 August 2015 8:12 PM

[ravi jain]

Sir
Please let us  know your age when u have taken policy
Ravi Jain (PSB SVRS)

[PSN Moorthy]

Dear Soumitra Mukherjee,

With all due respects to you , I would like to point out that what you have stated is  completely wrong.

It is true that IBA / UFBU did not meet any major demands of Retirees and we are all  disappointed / feel cheated.

 But the group mediclaim policy offered by Banks to retirees is definitely a very good step for welfare of 

retirees. As age advances  the requirement of a mediclaim policy is very essential for retirees.

Though UFBU has ditched  / cheated retirees / pensioners in this BPS on almost all issues, 

still we should encourage pensioners to opt for the mediclaim policy for the following reasons.

1- Hospitalisation  reimbursement facility is very much required for all pensioners  and  becomes

 more relevant & essential as age advances.

2- Annual premium to be paid by a pensioner is very reasonable ( may be around Rs. 2,000  to  Rs. 3000 )

compared to the amt of annual premium  (  around Rs. 20,000 ) to be paid for a standard mediclaim policy

 if taken by us directly / individually for the same assured amt.

3- When we go for a direct mediclaim policy at this age, we will have to face many negative clauses 

like  a) medical examination is required. b) Pre -Existing illness are not covered for a good number of years, Etc, Etc.

These things are avoided completely  and not a hindrance at all while taking Bank 's medeclaim policy.  Moreover

we get a floating  policy for self & spouse / dependants.

4- Regarding  TIe-up policy offered to bank customers (  like yours taken  as a bank customer),

I had very bitter experience earlier. Though it looks attractive, It can be terminated anytime by insurance co.  

 I had shared this information earlier in this blog.   I am copying that herebelow after this mail, for your information

[RAM LAKSHMAN Gupta]

I fully concur with the views of Mr. P N S Murthy. 

R L GUPTA

[K K Nanda]

I fully agree with Mr Rao

Sent from my iPhone

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[Soumitra Mukherjee]

Respected Sri PSN Moorthy Sir and Sri R L Gupta Sir,

Hearty thanks for your noble views on Mediclaim Policy introduced by IBA and UFBU combine for Bank Retirees at beneficiaries' cost with a kind request to once again go through my personal submission herein over the topic.

I feel never I have mentioned this topic as a good or bad or anything for or against it and rather tried to share my personal experience with fellow bankmen only which is 100% fact basis, nor I tried to advise anything to anybody.

The nationalized insurance companies will do business on us at purely market basis after well researched cost accounting by their actuaries and never it is coming at Rs.2000/- to Rs.3000/- p.a. even per head, as mentioned in yours views. Insurance Companies will earn business, Banks will earn commission and poor retirees after fulfilling their every demand will roam after TPAs at their very advanced and ailing age and mostly living separate from their children. Yes, this is the newly formulated scheme of IBA and UFBU combine for us at our cost. How and why, we are nearly on compulsion to swallow this is another story and I have never even tried to touch that.

In my submission, I had tried to touch (1) the actual cost aspect at market rate for a retiree, (2) false propaganda of great achievement for retirees as being propagated recently by UFBU:IBA combine and nothing beyond that. Yet this submission earned your noble views praising this scheme in other words !

Personally, I feel to reiterate my views towards this scheme and IBA:UFBU combine which is very very particular in view of their RECORD NOTE on us.

Last but not the least, I am a retired bankmen having no faith on UFBU or my erstwhile Union and having no soft corner on anybody in such organisations. I know, now onward, I am to fight my battle of my own with fellow bank retirees' only and none else and in that battle only self criticism may not be a good weapon at all. My hearty thanks and regards to all. Soumitra Mukherjee, Canara Bank, VRS 2011, Kolkata.     

[PSN Moorthy]

Dear Soumitra Mukherjee,

Thanks for the reply and I respect / appreciate your views.  I still feel the group mediclaim policy being offered by banks

 is very good and let us not miss this opportunity for our welfare. Let us continue to fight for all other long pending demands.

I thank Mr. CPV Nair and Mr. R L Gupta for  for supporting my view point & considering  this mediclaim policy issue  with  the right approach.

Regarding the annual premium of about  Rs.3,000 mentioned in my earlier mail , please note that it  is after considering the 

information that  few banks are likely to  bear partially ( may be around 50 % ) of  the  expected annual premium of 

about Rs. 6,000.  In case the banks decide not to support or  subsidise the premium,  still  I feel this is a good scheme 

worth considering even on payment of full annual premium by us. Let us leave it to the wish & judgement of individuals.

Regards & Best Wishes,

P S N Moorthy

Retired Manager

Vijaya Bank, Coimbatore

---

From: Soumitra Mukherjee <soumi...@gmail.com>
To: bankpe...@googlegroups.com

Sent: Saturday, 15 August 2015 8:37 PM
Subject: Re: bankpensioner Bankpensioner MASTER MEDI CLAIM POLICY FOR BANK EMPLOYEES WILL BE ISSUED BY AUG 31st.

[gobind arora]

Can anyone tell whether Bank of India has come out with its circular about mediclaim policy.

Gobind Arora
BOI
SVRS
(9312269538)