Hi,
My last day in my previous organisation was 13 August 2018 and I joined another organisation from 16th August, 2018. In the last company, I had to pay a monthly premium for a medical coverage of 1 lac rupees. Now, I am insured free of charge up to a sum of Rs. 3 lacs in my new organisation.
However, my previous organisation is adamant on deducting the premium for the remaining financial year at the following rates:
Covered Upto Days % Deduction (of annual premium)
7 10
30 25
60 35
90 50
120 60
180 75
240 85
>240 100
I find this ridiculous and exorbitant. I want to cancel this mediclaim policy as its of no use to me. And also, since my relations with the previous organisations have terminated, why are they paying the premium on my behalf to medical insurance company. I am not interested in this policy at all and don't want them to deduct this amount from my full and final. However, they are refusing to remove this deduction.
Please advise me on my rights in this matter.
From India
My last day in my previous organisation was 13 August 2018 and I joined another organisation from 16th August, 2018. In the last company, I had to pay a monthly premium for a medical coverage of 1 lac rupees. Now, I am insured free of charge up to a sum of Rs. 3 lacs in my new organisation.
However, my previous organisation is adamant on deducting the premium for the remaining financial year at the following rates:
Covered Upto Days % Deduction (of annual premium)
7 10
30 25
60 35
90 50
120 60
180 75
240 85
>240 100
I find this ridiculous and exorbitant. I want to cancel this mediclaim policy as its of no use to me. And also, since my relations with the previous organisations have terminated, why are they paying the premium on my behalf to medical insurance company. I am not interested in this policy at all and don't want them to deduct this amount from my full and final. However, they are refusing to remove this deduction.
Please advise me on my rights in this matter.
From India
This is a voluntary cover and no one can force you to buy this. Not only that, this appears to be a group health insurance policy and the employer will get pro rata refund in case employee leaves mid year.
You should not pay any premiums. There is neither any financial loss to the erstwhile employer
Deepak
PlanCover.com
From India, New Delhi
5You should not pay any premiums. There is neither any financial loss to the erstwhile employer
Deepak
PlanCover.com
From India, New Delhi
It appears your erstwhile employer covered you under 'group insurance' which premium is fixed considering the age, status, wage levels etc. The premium for entire group is remitted in advance, normally with half yearly or annual. There is a provision to adjust the revised premium when the insured employee(s) leave midway after the policies are taken. And practically they won't refund any amount for such discontinuance. There are 3 types of methods followed here- 1) Premia fully met by the employer (no botheration for employees) (2) Paid in adv. but shared 50 = 50 and (3) Paid by employer in full in adv. and deducted from salary, monthly to cover no profit no gain. And your case either 2 or 3 category. Coming to your case, if you are covered under ESI then there is no need to have group insurance. And therefore you are not under ESI. Hence they covered you under group insurance I presume. No doubt the recovery action is arbitrary but what practical, cost effective, quick solution is available to you? May be you have to consider continuing the policy on your own instead of short closing, if it works out well for you.
From India, Bangalore
From India, Bangalore
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