IBA Circular - Medical Insurance Scheme – constitution of committee

IBA Circular - Medical Insurance Scheme – constitution of committee

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 Sheme 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)