Come April 2003, the employees of four government-owned
general insurers have to budget for nearly 100 per cent
hike in their health insurance scheme. Adverse claims
ratio is the reason stated for the hike.
four companies take out a group mediclaim insurance policy
covering their employees and dependents with each other.
Through an employee welfare scheme, the monthly premium
is shared by the employees and the respective companies.
interesting development is that, like the general public
who take out mediclaim policies, the employees too have
to go through third party administrators (TPA) to get
their claim settled.
se all the employee unions are opposed to the concept
of TPAs as it increase the insurance cost by 6 per cent,
thus making many jobs redundant. It is nothing but rubbing
salt on the wound by making them subject to TPA scheme,