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News
Medical Insurance Policy for In-service Employees-officers
Date 11/10/2018 11:53  Author admin  Hits 2521  Language Global
IBA has advised all Banks to renew the Medical Insurance Policy for in-service employees/officers based on revised quotation from UIIC.

 

 

Year

Employees

Officers

 

1-10-2015 to 30-9-2016

Premium          4930

GST                  690

Total               6620

Premium       6573

GST               920

Total            7593

 

1-10-2016 to 30-9-2017

Increase of 112%

Premium        10452

GST                1568

Total             12020

Premium     13935

GST              2090

Total           16025

 

1-10-2017 to 30-9-2018

No increase

Premium       10452

GST                1881

Total             12333

Premium     13935

GST              2508

Total           16433

1-10-2018 to 30-9-2019

Original proposal of UIIC

Increase of 29%

Premium       13433

GST               2418

Total            15851

Premium      17909

GST              3224

Total           21133

1-10-2018 to 30-9-2019

Revised rate

Increase of 11%

Premium      11613

GST               2090

Total            13703

Premium      15483

GST                2787

Total            18270

 

Note: As agreed between IBA and UFBU, bed charge/room rent per day is revised  from Rs. 5000 to Rs. 4000 from 1-10-2018

Policy for Retirees is due for renewal from 1-11-2018.  Reduction in premium rate is under discussion.

With greetings,

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