Renewal of Medical Insurance Scheme for Retirees as agreed vide Bipartite Settlement/Joint Note Dated 25th May, 2015

Indian Banks’ Association
HR & INDUSTRIAL RELATIONS

No. CIR/HR&IR/BRK/2018-19/6037

9th October 2018

CEOs of All member banks party to 10th Bi-partite Settlement/Joint Note dated 25.5.2015

Dear Sir/Madam,
Renewal of Medical Insurance Scheme for Retirees as agreed vide Bipartite Settlement/Joint Note Dated 25th May, 2015

We invite your attention to our letter CIR/HR&IR/2015-16/XBPS/J/1413 dated 1st October, 2015, in terms of which banks were advised to extend the Group Medical Insurance Scheme to retirees also subject to payment of stipulated premium by them. Said Scheme is optional for retirees.

2. Thereafter, the Policy has been renewed for the year 2016-17 & 2017-18 and the current Policy is expiring on 31.10.2018.
3. IBA vide its letter 16th July, 2018 called quotes from all Public Sector Insurance Companies and SBI General Insurance Co., who were the co-insurer of the existing Policy.
4. In response to our letter Oriental Insurance Co., National Insurance Co., & SBI General Ins. Co. did not submit any quote for the Retirees policy. United India Insurance Co. & New India Assurance Co. submitted quotes as per Table below :-

5. As there was a proposed hike of 110% & 144% in the quotes for renewal of the Medical Insurance Policy without domiciliary and with domiciliary respectively, the matter was immediately taken up with UIIC who was L1 to re-examine and reduce the same.
6. With great persuasion and concerted effort made by the IBA, UIIC has revised the quote vide its letter dated 6.10.2018.
7. On the suggestions made by UFBU, UIIC gave option for sum insured i.e. Rs. 4 laksh / Rs. 3 Lakhs for Officers & Rs.3 Lakhs/ Rs. 2 Lakhs in case of Workmen. The insurance premium increase now quoted by UIIC after revision is 75% (earlier 110%) for without domiciliary and 123% (earlier 144%) with domiciliary (Annexure I)
8. Since, the Medical Insurance Policy for Retired Officers/Employees is optional, we request all the member banks to seek consent and collect premium from the interested retiree Officers/Employees as per the option chosen by them for renewal of the Policy with UIIC, with the same terms and conditions mentioned in the aforesaid letter of UIIC.
9. However, Banks are free to take up the Policy renewal by seeking quotes from any other Insurance Companies if the Banks decides to do so at their level.
10. We once again advise that as mentioned in our letter dated 7th June, 2018, banks may require to allocate some separate manpower to address claims by following up directly with TPAs/Insurance Cos as the services of broker are not available.
11. We enclose the revised premium quote received from UIIC (Annex II) for your ready reference.

Yours faithfully,
B Raj Kumar
Deputy Chief Executive

Annexure I

Source: http://www.iba.org.in/

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ALL INDIA STATE BANK OFFICERS’ FEDERATION
(Registered under the Trade Unions Act 1926, Registration No: 727/MDS)
State Bank Buildings, St. Mark’s Road, Bangalore – 560 001

CIRCULAR NO.86

DATE: 10.08.2018

TO ALL OUR AFFILIATES/MEMBERS:

DISCUSSIONS WITH IBA ON MEDICAL INSURANCE SCHEME

We reproduce hereunder the text of AIBOC Circular No.57 dated 9th August, 2018 contents of which are self-explicit.

(Y.SUDARSHAN)
GENERAL SECRETARY

CIRCULAR No. UFBU/2018/14

Date : 08-08-2018

TO ALL CONSTITUENT UNIONS/MEMBERS

Dear Comrades,
DISCUSSIONS WITH IBA ON MEDICAL INSURANCE SCHEME

As already informed to units, bipartite meeting was held today between IBA and UFBU regarding renewal of our Medical Insurance Policy for serving employees/ officers as well as for the retirees for the ensuing period 2018-19. IBA team was represented by Shri Rajkumar, Dy. Chief Executive, Shri S K Kakkar, Sr. Advisor (HR&IR), and Shri K S Chauhan, Sr. Vice President (HR). All our constituent unions were present in the meeting.

IBA informed us that United India Insurance Co. has given their proposal for hike in the premium on the Policies both for the serving employees/officers as well as for the retirees as under:

Serving employees/officers : Increase in premium by 29% over existing rate

Retirees(without Domiciliary) : Increase in premium by 110% over existing rate

Retirees (with Domiciliary) : Increase in premium by 144% over existing rate

We strongly objected to such steep hike in the rate of premium and informed the IBA that especially the hike in premium for the retirees is too exorbitant and not appearing to be relatable to actual claim ratio. We urged upon the IBA to take up with UIIC to drastically reduce the premium.

IBA informed us that they are already seized of the issue and the matter is being taken up with UIIC. We pointed out that the following points be kept in mind while finalizing the issue:

• There should be no attempt to discontinue the policy. Policy should be continued and renewed.
• The premium rates should be drastically revised downwards.
• Pending discussion with UIIC, the Policy for both serving employees and retirees should be extended upto 31-12-2018 with pro rata premium.
• Cost of upfront payment of annual premium should be factored in while finalizing the premium rate.
• Change in age profile of serving employees and retirees should be taken into account while working out the revised premium rates.
• IBA should take up with the Government for exemption of GST on premium amount.
• Renewed Policy should include a penalty clause for delayed sanction of bills/ reimbursement.
• If broker will not be involved in the scheme, suitable mechanism should be put in place to deal with cases of repudiation of claims, etc.
• Uniform guidelines should be given by IBA for sanction of amount under Buffer allocation.
• Premium should be worked out on a composite basis by clubbing both serving employees and retirees.
• Premium for retirees should also be paid by the managements.

IBA took note of the above points raised by us and assured to keep these views in mind while further dealing with the same.

Next round of Talks on 18-8-2018: Next round of Bipartite Talks (Sub-Committee) will be held on 18th August, 2018. Discussions will be held in the forenoon with the Officers Associations and in the afternoon with Workman Unions.

With greetings,

Yours comradely,
sd/-
(SANJEEV K. BANDLISH)
CONVENOR

Source: http://aisbof.org

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INDIAN BANKs’ ASSOCIATION

HR & INDUSTRIAL RELATIONS

No.HR&IR/SKK/Medical Ins/2018-19/5041

May 8, 2018

Shri Sanjev K.Bandish,Convenor,UFBU
United Forum of Bank Unions,
C/o State Bank of India,LHO,Plot no.1, Sector -17A
Chandigarh – 1600017

Dear Sir,
Medical Insurance Scheme – constitution of committee

Please refer to our earlier communication in the subject matter and discussions held on 5th May,2018 with the Negotiating Committee. As desired , we place below the four suggested options:

i. Banks may go back to the earlier Hospitalization Expenses reimbursement Scheme as was in vogue till 9th Bi-partite settlement for employees and dependent family members.

ii. Directly deal with united India Insurance Co.Ltd or any other Insurance Company by calling quotes, without any interference from Broker.

iii. Advise banks to decide on the course of Medical Insurance Scheme on their own. Each Bank can negotiate with Insurance Companies to provide a Scheme tailor made to the requirement of the same.

iv. Continue with the process of appointing two or more brokers to help in assisting the IBA member banks to get a suitable Scheme prepared after getting the best quote as the nuances and fine print of the Insurance Policy and its features & interpretation will not be known to most employees & IBA in the absence of a broker.

2.In this context, as suggested by you, we would like to hold a meeting at our stadium House Office on 11.5.2018 at 11.00am to have fruitful deliberation for further course of action regarding Medical Insurance Scheme. You are therefore requested to kindly make it convenient to depute four representatives (two from officers Associations & two from Workmen Unions) to attend the meeting & share the views of the unions & Associations so that the matter may be concluded well in time before renewal.

3.A line of confirmation will be highly appreciated in this regard.

Yours faithfully,
S/d,
S K Kakkar,
senior Advisor (HR&IR)

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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,

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 :

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,

sd/-

K.Unnikrishnan

Deputy Chief Executive

Authority: www.iba.org.in

Click to view the circular

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