Clarification On Medical Insurance Subsidy

CENTRAL BANK RETIREES' ASSOCIATION

(TAMILNADU)

E-mail dated 3rd January,'18

Dear Comrades:

We have been getting queries from our comrades about the subsidy offered by State Bank of India Management to their retirees towards the payment of premium of their Mediclaim Insurance Policy.

Comrades are aware that State Bank of India did not opt for the Group Health Insurance Scheme for their employees and retirees when the same was introduced in Banks during the last bipartite settlement.

They have now come out with their own Group health insurance scheme and they have now offered graded

subsidy to their retirees.  A glance of the policy amount and the premium payable will reveal 1) how our retirees are benefited and 2) how retirees of State Bank of India  have to shell out heavily to get covered.

We attach a tabular statement which indicates the premium payable by the retirees of other Banks and  the huge premium payable by State bank of India retirees for almost the same coverage with different kind of options.

With kind regards

Comradely yours

S Radhakrishnan

SBI MANAGEMENT GIVES SUBSIDY ON MEDICAL INSURANCE PREMIUM FOR SBI RETIREES   - FACTS

ANNUAL PREMIUM  AS PER SCHEME		SBI POLICY
RS. 12,333	WORKMAN WITH GROSS MONTHLY PENSION                                      RS. 20,000 - 30,000 COVER : RS. 3LACS WITHOUT DOMICILIARY	ACTUAL :               RS. 19,498 AFTER SUBSIDY:   RS.  7,799
RS. 27,750	WORKMAN WITH GROSS MONTHLY PENSION                           RS. 20,000 - 30,000 COVER : RS. 3LACS WITH DOMICILIARY	ACTUAL                RS. 33,170 AFTER SUBSIDY: RS. 21,170
RS. 15,844	WORKMAN WITH GROSS MONTHLY PENSION                                      RS. 20,000 - 30,000 COVER : RS. 3 + 4 = 7 LACS WITHOUT DOMICILIARY	( POLICY COVER                                       Rs. 7.5 LACS IN SBI) ACTUAL PREMIUM Rs. 86,213        AFTER SUBSIDY:      Rs. 74,213
Rs. 31,261	WORKMAN WITH GROSS MONTHLY PENSION                                      RS. 20,000 - 30,000 COVER : RS. 3 + 4 = 7 LACS WITH DOMICILIARY	( POLICY COVER                                       Rs. 7.5 LACS IN SBI) ACTUAL PREMIUM         Rs. 1,21,657   AFTER SUBSIDY:             Rs. 1,09,657
Rs. 16,443	Officer with GROSS MONTHLY PENSION                                      RS. 30,000 - 40,000 COVER : RS. 4 LACS WITHOUT DOMICILIARY	ACTUAL PREMIUM   Rs. 30,784   AFTER SUBSIDY:        Rs. 18,784
Rs. 36,998	OFFICER WITH GROSS MONTHLY PENSION                                      RS. 30,000 - 40,000 COVER : RS. 4 LACS WITH  DOMICILIARY	ACTUAL PREMIUM   Rs. 50,126       AFTER SUBSIDY:        Rs. 38,126
RS. 20,249	OFFICER  WITH GROSS MONTHLY PENSION                                      RS. 20,000 - 30,000 COVER : RS. 4 + 5 = 9 LACS WITHOUT DOMICILIARY	POLICY COVER RS. 10 LACS IN SBI ACTUAL :                  RS. 130,975 AFTER SUBSIDY:     RS.  118,975
RS. 40,844	OFFICER  WITH GROSS MONTHLY PENSION                                      RS. 20,000 - 30,000 COVER : RS. 4 + 5 = 9 LACS WITH DOMICILIARY	POLICY COVER RS. 10 LACS IN SBI ACTUAL :                  RS. 177,975 AFTER SUBSIDY:     RS. 165,828