retired bank employees
06:25
Showing posts with label Medical Reimbursement scheme. Show all posts
Showing posts with label Medical Reimbursement scheme. Show all posts
Thursday, 5 November 2020
Tuesday, 22 May 2018
Wednesday, 9 May 2018
Wednesday, 18 April 2018
retired bank employees
07:42
Medical Insurance Scheme -Bank Employees News
Medical Insurance Scheme -Bank Employees News
Source:BEFI
Tuesday, 27 March 2018
Thursday, 11 January 2018
State Bank of India
08:51
Banks Medical Reimbursement Scheme:Waiver of Scrutiny of Medical Bills up to Rs.2000/-
Banks Medical Reimbursement Scheme:Waiver of Scrutiny of Medical Bills up to Rs.2000/-
Source:AISBOF
Wednesday, 8 February 2017
Thursday, 26 January 2017
State Bank of India
17:59
Medi-claim renewal rates for SBI retirees may rise 300%
Medi-claim renewal rates for SBI retirees may rise 300%
Renewal premium rates of the family floater group medi-claim policy for retirees of State Bank of India (SBI) may go up by 300 per cent or more.
High claim ratio
The family floater was launched on January 16, 2016, and was due for renewal on January 15, this year. According to the terms, the rates for renewal would be negotiable if the claims ratio exceeded 140 per cent.
United India Insurance had conveyed to the bank that the claims ratio had exceeded this level as early as on November 15, 2016.
Anticipating further escalation by the end of the policy term in January 2017, it had quoted renewal premium rates with high loading percentages.
Changes approved
Following discussions with the insurance company and brokers, the SBI management approved modifications in the policy and its renewal on the revised rates across various plans.
Sources say that an estimated 2.43 lakh pensioners, their spouses and children (counting up to around five lakh in total) are likely to be impacted.
According to them, the higher premium will see many opting out, leading to likely escalation in premium rates in the years to come.
Service tax hike
They are concerned that the Centre’s proposal to raise service tax from 15 per cent to 18 per cent would only add to the premium outgo.
The policy will continue to be available to pre-merger retirees, surviving spouses of pre-merger retirees, and deceased employees of erstwhile State Bank of Saurashtra and State Bank of Indore.
New retirees of associate banks, which are expected to merge shortly, will also be permitted to join in.
Prospective members can opt for any one of these by paying the premium from their own sources.
Employee options
Existing members covered under any plan will have the option of switching to a different plan subject to payment of appropriate premium.
Pensioners removed from service may be permitted to join, but those dismissed from service may continue to be excluded.
Eligible new retirees/ spouses of deceased employees will be allowed to join within three months from the date of retirement/ death by paying the premium from own sources on pro-rata basis.
Employees who are members of the National Pension System will be allowed to join on completion of 20 years of confirmed service.
Source:BankingUpdates
Wednesday, 31 August 2016
retired bank employees
18:35
IBA MEDICAL INSURANCE SCHEME FOR RETIRED OFFICERS/ EMPLOYEES / SPOUSES OF THE DECEASED EMPLOYEES – EXTENSION OF DATE FOR SUBMISSION OF OPTION
IBA MEDICAL INSURANCE SCHEME FOR RETIRED OFFICERS/ EMPLOYEES / SPOUSES OF THE DECEASED EMPLOYEES – EXTENSION OF DATE FOR SUBMISSION OF OPTION
Wednesday, 10 August 2016
retired bank employees
19:17
AIBEA & AIBOA : Continuation of Medical Expenses Reimbursement Insurance Scheme for Employees/Officers who retired after 01.10.2015
AIBEA & AIBOA : Continuation of Medical Expenses Reimbursement Insurance Scheme for Employees/Officers who retired after 01.10.2015
8th August, 2016
Dear Comrades,
Reg:Continuation of Medical Expenses Reimbursement Insurance Scheme for employees/officers who have retired after 1-10-2015 .
In terms of the 10th Bipartite Settlement and Joint Note on Officers Wage Revision, Banks have introduced the Medical Expenses Reimbursement Insurance Scheme and all employees and officers have been covered by the Scheme from 1-10-2015. Since the Policy commenced from 1st October, 2015, it will end on 30th September, 2016. Our Settlement / Scheme provides that employees/officers who retired during this period will continue to be covered by the policy upto 30-9-2016 and can continue in the Scheme thereafter on payment of the requisite premium.
However, the Insurance Policy for the retirees commenced from 1-11-0215 and comes to an end on 31-10-2015. In order to ensure coverage of the Policy for this interim period of one month ( 1-10-2016 to 31-10-2016), we took up the matter with IBA.
It is informed that United India Insurance Company has clarified to all the Banks that such retirees can continue in the Scheme by remitting one month pro-rata premium amount to cover upto 31-10-2016 and thereafter pay annual premium for future.
Alternatively instead of remitting one month pro-rata premium now and 12 months premium again thereafter, the retirees can also remit 13 months premium now and be covered upto 31-10-2017.
Units are requested to follow up the matter with their respective managements and ensure that retirees are covered by the policy as above.
With greetings,
Yours comradely,
pto..
Clarification from United Insurance Co.
to all Banks dt. 18-7-2016
Subject: IBA MEDICAL INSURANCE - COVERAGE FOR EMPLOYEES RETIRED UPTO SEP 2016
Dear Sir/Madam,
With regard to the inclusion of the employees who have retired during the current policy upto Sep 30th, you may collect 1 month pro-rata premium for including them in the current retire policy which is expiring on OCT 30th. Thereafter, again 12 months premium is to be collected for including them in the policy starting from NOV 1st.
Alternatively instead of collecting premium 2 times, you may collect premium for 13 months.
Please keep ready the list of employees who have retired during the currency of the present employee policy .
The amount of premium to be collected shall be communicated to you in due course.
Source:Mycbou.com
Tuesday, 26 January 2016
retired bank employees
19:08
Terms & Conditions of Group Medi-claim policy issued By United India Insurance Co. Ltd for future renewal
Terms & Conditions of Group Medi-claim policy issued By United India Insurance Co. Ltd for future renewal
Ref N0 2015/307
14.01.2016
The Office Bearers/ Central Committee Members/State Body Chiefs
A.I.B.R.F
Dear Comrades
Re: Terms & Conditions of Group Medi-claim policy issued By United India Insurance Co. Ltd for future renewal
We below give terms and conditions for the information of our members on which mediclaim policy will be renewed for the retirees by United India Insurance Company Limited
(1) Company will continue cover for next 3 years
(2) The policy will be renewed on the following premium
Claim Ratio Discount/ Loading to the Premium
Not Exceeding 25 % 40 % Discount
Not Exceeding 30 % 35 % Discount
Not Exceeding 40 % 25 % Discount
Not Exceeding 50 % 15 % Discount
Not Exceeding 60 % 05 % Discount
61 % - 110 % No Discount no loading
111 % - 115 % 05 % loading
116 % - 120 % 07 % loading
121 %- 125 % 10 % loading
126 %- 130 % 13 % loading
131 % - 135 % 15 % loading
136 % - 140 % 18 % loading
In view of the above next year premium for renewal will be as under depending on claim ratio.
Sum Assured Minimum Maximum
For Rs 3 Lakhs Rs. 2958 plus taxes Rs 5817 plus taxes
For Rs 4 lakhs Rs. 3948 plus taxes Rs.7756 plus taxes
AIBRF has written a letter to the Chairman, Insurance Regulatory & Development Authority India (IRDAI) regarding grievances of retirees against the insurance company which has issued mediclaim policy (under IBA scheme).
Source:AIBRF,BankPensioners
Tuesday, 6 October 2015
pro-rata premium
07:49
IBA informed that the new scheme on hospitalisation/ medical expenses reimbursement scheme has commenced from 1-10-2015 (for serving employees)
IBA informed that the new scheme on hospitalisation/ medical expenses reimbursement scheme has commenced from 1-10-2015 (for serving employees)
The following 18 Banks have paid the pro-rata premium and hence for employees of these Banks, coverage will be available from 1-10-2015.
1 ANDHRA BANK,
2 ALLAHABAD BANK
3 BANK OF BARODA
4 BANK OF MAHARASHTRA
5 CENTRAL BANK OF INDIA
6 DENA BANK
7 INDIAN BANK
8 ORIENTAL BANK OF COMMERCE
9 PUNJAB NATIONAL BANK
10 SYNDICATE BANK
11 STATE BANK OF TRAVANCORE
12 UNION BANK OF INDIA
13 UCO BANK
14 VIJAYA BANK
15 NAINITAL BANK
16 RATNAKAR BANK
17 KARUR VYSYA BANK
18 LAKSHMI VILAS BANK
For the remaining Banks, the coverage will be effective from the date of joining the scheme by paying the premium.
Source :Indian Bank Kumar.