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Wednesday, September 20, 2017

Are Bank Staff Cheated ?

Present status of Insurance Policy and Renewal :
We find that there is no consistency in the approach of this insurance company/ broking firm  in dealing with retirees.
In the first year they refused to honour their commitment to give domiciliary benefits to the retirees despite signing specific settlement with IBA to do so.
In the second year they introduced domiciliary benefits scheme   on restorative basis that too for extra premium unlike employees where domiciliary benefits continued to be unlimited with no extra premium while it is specifically written in the settlement that group insurance policy will be available to retirees on same terms and conditions and on  same premium.
Now in third year, they have increased the premium by 400 hindered per cent. We are also  unable to understand and appreciate business policy of insurance company/ broking firm not to discuss/ take feedback from our organisation who represent more than 1.6 lakhs retirees who use the scheme  and pay for it before finalising renewal.
In coming years, Insurance company may increase premium again by 200 or 400
After all , who will stop them ?
Rise in Premiums – One problem with cashless policies stems from their requiring no payment from the policyholder. As a result, the policyholder tends to go not merely to a good hospital, but to an expensive one. The idea is that since he is not required to make any payment, he might as well get the best (or most expensive) treatment. The disadvantage is that this could lead to the insurer saddling the insured with higher premiums in the future. This risk does not hold for reimbursement policies, where the insured chooses affordable healthcare providers because the initial payments come from his own pocket.
I had warned when medical insurance scheme in lieu of bank's own Hospitalisation scheme was in proposal stage in 2013 -14 . Now insurance company is demanding 400% rise in premium from retirees and reportedly 200% jump in that of working staff. It means retirees are facing the worst outcome of mischievous medical insurance policy and there is no doubt to me that in near future, even working staff as well as their parent bank will face and experience the evil consequences of said medical health insurance scheme. Premium will undoubtedly be increased every year by insurer to make difficult for bank and bank staff to bear with the burden and inherent evil acts under the umbrella of insurance.
Blunder was committed during last bipartite settlement. Now every year, insurance companies will increase premium rate and force you to come out of it. Insurer will get business at the cost of bank staff. Hospitals will prepare bill for nothing, inflate amount of bill to great extent. Staff will be operated without need of it. Hospitals will get huge business at the cost of bank staff. All these nuisance will surface as monster as time passes.
Bank management i.e the employer itself has become careless of its own staff, they themselves became looters of their staff , how it is imaginable that hospitals and insurers will take care if bank staff. When protectors become destructor, damage is certain. This was told by great writer Munsi Premchand long ago.
Trade union leaders who signed on suicidal bipartite settlement last time i.e. in the year 2014- 15 now shed Crocodile tears in sympathy of suffering staff.
They experience little pain because retirees are the most sufferer of whimsical and sharp rise in premium announced by insurance companies . They are not going to be affected even if retirees die crying in pain. They will face the music only when they themselves or working staff or senior officials become victim of mischievous insurer and mischievous hospitals working in nexus with each other.
It is not too late even now. If we forget we are retiree or working, bank staff altogether raise a protest against this culture of mediclaim type insurance scheme currently in force , our union leaders called as our well-wishers and protectors may insist for restoration of erstwhile hospitalisation scheme in ongoing Bipartite Settlement talks with Indian Bank Association IBA. In such case, many staff will save them from unwarranted surgical operation on their body and get justified and unavoidable surgery only, bank will save crores of rupees.
As of now bank management , working staff and trade union leaders think that they are gainer because they need not pay the premiums even if it is increased or decreased. Their time and mental energy is not consumed in processing of hospital bills submitted by staff. But when they will witness cruelty of doctors in hi-fi hospitals and mischievous act of insurer they will realise their guilt, but when it is too late.
Let us pray God that they ( bank management and trade union leaders both acting as protectors ) are blessed with sound wisdom .
This is time that a national level, bank level and branch level discussion starts to assess pros and cons of present health insurance scheme imposed on bank staff by bank management during last bipartite settlement .

Please read my recent blog which highlight how insurance companies have announced sharp rise in premiums recoverable from bank staff , working as well as retirees.

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