Reconsider 18 percent GST on group medical insurance for bank retirees: D Raja urges Sitharaman

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CPI general secretary D Raja on Friday wrote to Finance Minister Nirmala Sitharaman urging her to reconsider the 18 percent GST on the annual Group Health Insurance Policy of retired bank employees. He said this comes to about Rs 4,000 to Rs 5,000 per year, burdening these senior citizens. 

“For the in-service employees, the premium is paid by the bank management and hence employees do not feel the burden, but in the case of the retired staff, the premium and the GST on it are paid by these senior citizens,” Raja said in his letter.

“The rate of the premium itself is going up every year and hence this 18 percent GST on it is a big financial burden on them (senior citizens),” he said. “Looking to the genuine plight of these senior citizens, I strongly urge upon you to reconsider the matter and remove the premium paid on Group Health Insurance Scheme from the GST list,” he said.

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