Non-Serious Follow Up For Relief On Insurance Premium

AIBEA CIRCULAR ON MED.INSURANCE > CIRCULAR NO. 28 /152/2019 /53 18-10-2019

TO ALL UNITS AND MEMBERS:
Dear Comrades,

Group Medical Insurance Scheme for Retirees

One more chance to join/rejoin the Policy
Responding to the representations and requests from cross-section of the retirees to work out a health insurance scheme for the retirees, at the initiative of AIBEA, a Group Medical insurance Scheme was introduced based on the 10th Bipartite Scheme evolved for the in-service employees and officers.
But our demand for bearing the premium by the management was not accepted and the premium was made payable by the retirees. While in the first year, the premium was affordable and reasonable, in subsequent years, due to hike in claim ratio, the premium also has gone up. In this background, many retirees did not join the scheme and some retirees who joined the same in 2015 subsequently did not renew the policy.

However, since the medical insurance is becoming day by day important due to ever increasing cost of medical treatment, there were number of requests to AIBEA to get one more chance to join/rejoin the Scheme and Group Insurance Policy.
We have been pursuing the issue with IBA and also with United India Insurance Co. We are happy to inform that UIIC has agreed and informed IBA that one more chance will be given to all the retirees to join/ rejoin the Policy.

Accordingly, IBA/Banks will be advising all the retirees in this regard. We hope that all the retirees who are desirous of joining/rejoining the Policy will do so now.
We are also pursuing the issue of fine-tuning the Scheme for retirees so that the premium becomes more affordable.
Today, during the bipartite talks, from UFBU, the issue of extending some loan/advance was taken up. UFBU’s letter to IBA is furnished overleaf.

With greetings,
Yours Comradely,
C.H. VENKATACHALAM
GENERAL SECRETARY
==================================
UFBU LETTER TO CHIEF EXECUTIVE IBA >  LETTER NO UFBU/2019/11   DATE : 18.10.2019

TO
SHRI V. G. KANNAN, CHIEF EXECUTIVE, INDIAN BANKS’ ASSOCIATION, WORLD TRADE CENTRE, CENTRE 1, 6THFLOOR, CUFFE PARADE, MUMBAI-400 005.

Dear Sir,

Reg: Premium payable by retirees on Group Medical Insurance Policy

We refer to the discussions we had with your negotiating team today during our discussions on wage revision and other related issues.

As pointed by us and you are also well aware, the premium on the Group Health Insurance Policy has been going up year after year and for many retirees it is becoming unaffordable even though, the need for some medical insurance cover is increasing day by day.

We are happy to note that United India Insurance Company has agreed to extend one option to all the existing retirees who are now not covered by the Group Medical Insurance Scheme to join the scheme and we are thankful for your efforts in this regard.

As requested during the meeting, we urge upon the IBA and all the Banks as under:
a. Early disbursement of pension for October, 2019 to enable the retirees to have adequate amount with them to pay for the renewal of the policy

b. Consider extending interest free loan/soft loan to the retirees to help them to pay the renewal fees to UIIC.

c. Banks to consider some subsidy to the retirees from the renewal fees paid by them.

We shall thank you for your sympathetic consideration of the above.

Thanking you,
Yours faithfully,
CONVENOR