Implementation of Medical Insurance
scheme to Bank Retirees wef 1st Nov, 2015 as agreed vide Bipartite
Settlement/ Joint Note Dated 25th May, 2015
Indian
Banks’ Association
HR & INDUSTRIAL RELATIONS
No CIR/HR&IR/2015-16/XBPS/J/1413
October 1, 2015
To,
All Member Banks which are parties to the Bipartite Discussions
Dear Sir/ Madam,
October 1, 2015
To,
All Member Banks which are parties to the Bipartite Discussions
Dear Sir/ Madam,
Implementation of Medical Insurance
scheme to Retirees as agreed vide Bipartite Settlement/ Joint Note Dated 25th
May, 2015
We refer to our letter No
CIR/HR&IR/2015-16/XBPS/961 dated the 29th June, 2015 in terms of which the
member Banks parties to the Bipartite Discussions were advised that the medical
Insurance Scheme will be extended to the existing retirees also, subject to
payment of the agreed Insurance Premium by them. It was also advised to bring
to the notice of the existing retirees, the contents of the said scheme and
obtain their consent as to whether they are willing to join the Scheme and on
receipt of their consent, the details were to be provided to the Lead Insurer
i.e. United India Insurance
Co. Ltd. appointed by IBA for the
purpose.
2. We have been advised by M/s K.M.
Dastur Reinsurance Brokers duly authorized by the Lead Insurance Company to
collect the employees as well as retirees data from the Banks, that while the
employees data has been received by them from the Banks, the retirees data is
yet to be provided by the Banks to them. As such, the United India Insurance
Co. Ltd. has calculated the premium in respect of the employees of the
concerned Banks and has demanded to remit the premium accordingly to them so
that Mediclaim Policy in respect of employees may be implemented preferably from
1st October, 2015.
3. In this connection, we advise that a separate Mediclaim Policy in respect of retirees will be issued on similar terms and conditions as is applicable to serving employees, once the data is provided by the Banks to United India Insurance Co. Ltd. through their authorized broker M/s K.M Dastur Reinsurance Brokers and Insurance Premium is remitted to the Insurance Co. The Insurance Premium for retirees is also same as is for serving Employees which is as under :
3. In this connection, we advise that a separate Mediclaim Policy in respect of retirees will be issued on similar terms and conditions as is applicable to serving employees, once the data is provided by the Banks to United India Insurance Co. Ltd. through their authorized broker M/s K.M Dastur Reinsurance Brokers and Insurance Premium is remitted to the Insurance Co. The Insurance Premium for retirees is also same as is for serving Employees which is as under :
|
Category
|
Insurance Cover (Rs)
|
Amount of Premium
|
|
Officers (Retirees)
|
4
Lacs
|
6573
+ Ser Tax
|
|
Workmen (Retirees)
|
3
Lacs
|
4930
+ Ser Tax
|
|
Sub-Staff (Retirees)
|
3
Lacs
|
4930
+ Ser Tax
|
4. Participating Banks are therefore
requested to obtain the consent of the retirees expeditiously and provide the
details on prescribed format to M/s K.M Dastur Reinsurance Brokers to
enable the Insurance Co. to calculate the Insurance Premium in respect of
retirees of the concerned banks accordingly. To make the
Mediclaim Insurance Policy operational w.e.f. 1st November, 2015 for
retirees, it is suggested to inform the retirees to give their consent for
joining the Scheme latest by 25th October, 2015. We have requested to Lead
Insurer to allow a grace period of three months to such retirees who could
not give their consent by stipulated date as suggested above to join the
Scheme after Mediclaim Policy is made operational. In exceptional circumstances,
to the satisfaction of the concerned Bank, the request of the retirees may
be considered to join the scheme during the currency of the Policy.
The Insurance company has agreed for the same.
5. It is pertinent to mention that
United India Insurance Co. Ltd conducted workshops in the month of July in
Mumbai, Delhi, Chennai and Bengaluru covering representatives from all
participating Banks to disseminate the salient features of the Policy,
benefits available to the employees/ retirees and to clear the doubts/queries raised
by the participants.
6. Please, therefore, make all out efforts to operationalize. the MediclaimPolicy for retirees preferably from 1st November, 2015
Yours faithfully,
K Unnikrishnan
Deputy Chief Executive
Source: http://www.iba.org.in/Documents/MIS-Retirees-IBA0001.pdf
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