Group Health Insurance

POSTED BY Dr M.Chandrashekhar ON June 7, 2012 8:30 am COMMENTS (6)

Is it true that nationalised banks have group medical insurance for their employees in which they allow some customers ( good customers as per bank) also to participate ?

The premium is not very high & being bankers they manage to wrangle good services from Insurance Companies for their employees. .

I cannot recollect where I read about this but I remember reading it.
Can any one / any banker throw some light ?


6 replies on this article “Group Health Insurance”

  1. Dr M.Chandrashekhar says:

    Thank you, for your valuable advice, Ashal.

    Dr MCS

  2. Dear Dr. MCS, as you are on the wrong side of age, Please decide quickly. Not many Insurer ‘ll offer you the cover. In my opinion, next year reduce the cover from Max Bupa but do not throw it away completely for the fact that new insurer ‘ll start counting from day one for non inclusion of pre existing deceases.

    One more option with you is to check for health insurance portability.



  3. Dr M.Chandrashekhar says:

    Thanks, Ashal– your point is well taken. As such I have given myself one more year to think over !

    We have renewed the premium for one more year with Max Bupa inspite of steep premium. Meanwhile , we will continue our search !

    Iam 59+ & my wife is 54. Can anyone suggest anything better ?

  4. Dr M.Chandrashekhar says:

    Thank you , Ashal. In a way, I feel it is OK to join one of these Group Medical Insurance schemes. As such, it is a question of luck whether TPA or the Company will pass the Medical Insurance money. Last minute, they ditch you.

    Recently, my wife was admitted for a minor procedure in a hospital – she is covered by Max Bupa Heart Beat Gold policy. we got the Pre-Auth & she got admitted. Just before surgery, the hospital got a fax that pre-Auth was cancelled. The Consultant asked his junior to write the case notes & the young doctor probably made some mistake in the history of the patient ( I was not privy to it ) & sent it to Max Bupa. The hospital levied Rs 58 K for an one day procedure which i paid for & claimed ( in fact , fought) with Max Bupa & got Rs 52K after a month.

    Dr MCS

    1. Dear Dr. MCS, so from your own reply as well as personal experience I assume you are ready to bite bullet of lower prem. from such group covers as the basic idea is now clear to you that in case of claim you have to fight on your own. Nothing wrong in it. Please go ahead. Please check what ‘ll be the possible cover for the same prem. from this group health cover that you w’d have to pay to Max Bupa at the time of renewal after this claim.

      Just a small suggestion to you till the time you are not moving your cover, please contact Max Bupa & pay additional prem. on pro rata basis to restore the sum assured against that claim of 52K Rs. till the time of renewal.



  5. Dear Dr. MCS, group insurance for employee of the bank in question is one thing & group insurance for the customer is another thing. Many banks are offering such group health covers to it’s customers (IOB, BOB, PNB to name a few). Being group cover, the prem. is cheaper than ordinary policy but please do note onus lies on the customer to file the claim & get it accepted from the insurer directly. Bank branch or staff is not going to help in claim. In this case Bank is merely a broker nothing else.



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