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NMDC Contributory Scheme for Post Retirement Medical Facilities

NMDC Limited. NMDC Contributory Scheme for Post Retirement Medical Facilities. Presentation by CS Joshi GM (P&A). NMDC Limited. About NMDC. Formation of NMDC.

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NMDC Contributory Scheme for Post Retirement Medical Facilities

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  1. NMDC Limited NMDC Contributory Scheme for Post Retirement Medical Facilities Presentation by CS Joshi GM (P&A)

  2. NMDC Limited About NMDC

  3. Formation of NMDC • NMDC was established on 15th November 1958 as a Public Sector Undertaking to explore, develop and exploit mineral resources other than fuel oil and atomic minerals. • Later NMDC has ventured in other areas like Steel making/wind power/coal exploration etc.

  4. Background NMDC began its journey with extensive exploration work covering a large number of minerals. The Company developed mines based on the results of exploration. Subsequently, it passed on Maghahatuburu and Kiriburu mines in Jharkhand to SAIL and Kudremukh Iron Ore Mine was finally exploited by a new Public Sector Company viz. Kudremukh Iron Ore Company Limited. The Copper mine developed by NMDC at Khetri was passed on to Hindustan Copper Limited.

  5. Background(Contd..) • Initial Authorized Capital of Rs.15 crore • Enhanced to Rs.150 crore on 7.1.1997 • Paid up Capital of Rs.132.16 crore on 7.1.1997 • Disinvested to Financial Institutions 1.61% in 92-93. • Disinvested 0.01% in 96-97 in favour of employees • Authorized capital enhanced to Rs.400 crore and paid up capital to Rs 396.47 crore • Further disinvestment of 8.38% in March 2010

  6. Profile Signing MoU with Govt of India since 1991-92. Consistently generating Profits since 1991-92. Dividend paying company for the last 19 years. Was conferred the Miniratna status in 1998. Continuously engaged in CSR activities, initially in the name of peripheral development with expenditure of upto Rs.100 crores. Navaratna status in 2008. SIIL merged with NMDC in June 2010.

  7. Objectives To expand the operations in the areas of mining & mineral processing , steel making and other value added plants. Achieve international standards in per capita productivity, value addition & cost effectiveness. Increase the capacity of Iron ore mines from 27 MT to 40 MT by 2014-15. Commissioning of 3 mtpa Integrated Steel Plant at Jagdalpur (Nagarnar). Achieve growth by expansion of existing mines, opening new mines and setting up value added plants To maintain environment protection, conserve mineral resources, maintain high level of Customer satisfaction, improve quality of life and growth of the country.

  8. NMDC Projects Existing Under construction Panna Diamond Mine Chhatisgarh Integrated Steel Plant, Nagarnar Madhya Pradesh Donimalai Iron Ore Mine Kirandul Complex Dep 14 / 11C Pellet Plant & BHJ Plant Kirandul Complex Dep 11B Bacheli Complex Dep 5 & 10/ 11A Kumaraswamy Iron Ore Mine Karnataka Sponge Iron Unit, Paloncha

  9. Financial Performance

  10. Dividend

  11. NMDC Limited About Post Retirement Medical Scheme

  12. Eligibility • Retired Employee and Spouse; • Minimum 10 years of continuous service in the Company; • Continuous previous service in other CPSEs also counted for the purpose; • Voluntary Retirement with minimum 20 years continuous service; • Medically unfit.

  13. One time contribution • Group A Rs.4,200/- • (E7 & above) • Group B Rs.3,200/- • All other Executives & Supervisors • Group C Rs.2,100/- • Workmen

  14. Medical Pass Book • Employee on retirement to apply for membership to the scheme; • After verification, a medical pass book is issued; • On request separate pass books are issued for retired employee and spouse.

  15. Benefits • Out Patient • In Patient • Prolonged Continuous Treatment (PCT) • Hearing Aid and appliances • Special Provisions • Advance

  16. Out Patient Treatment • Lumpsum payment of OP on self certification basis limited to fixed amount; • OP reimbursement for all groups, irrespective of category - Rs.15,000/- pa.

  17. In Patient Treatment • NMDC Project hospital; • Company approved/recognized hospitals; • Government hospitals; • Hospitals maintained by CPSEs; • UTI recognized hospitals under their Sr Citizen Plan;

  18. Prolonged Continuous Treatment (PCT) • For prolonged sickness/chronic diseases like Hypertension; Diabetes; Cancer; Heart ailments; Asthama; Arthritis etc; • Claim monthly reimbursement by submitting doctor prescription and bills.

  19. Reimbursement for cost of medicines under PCT In case a member is availing PCT, either for self or spouse, the ceiling on OP treatment of `.15,000/- is reduced as given below:

  20. Hearing Aid • Reimbursement restricted to Rs.30,000/- for one sided; • Maximum admissible ceiling for reimbursement is Rs.60,000/-.

  21. Special Provisions • Members can undergo dialysis, blood transfusion, chemotherapy and radiotherapy as out patient procedures on credit basis in approved hospitals and bills are directly settled by the Company.

  22. Advance • For major in-patient treatments; • Which is likely to cost more than Rs.10,000/-; • Released directly to the hospital on the advice of the doctor/hospital;

  23. Claims • Members can claim for • Out Patient treatments - half yearly; • In Patient treatment - within six months; • Prolonged treatment - quarterly;

  24. Thank You

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