Grandfathering
Video Transcript
Explanation
Under the health care reform law, health plans in existence on March 23, 2010 may be eligible for “grandfathered” status. Generally, a grandfathered plan will be exempt from some but not all of the law’s insurance market reforms. However, changes in benefits or other plan terms may result in the loss of that status. If grandfathering is important to you, you need to review your options carefully.
Aetna's Take & Action
Most health plans will not remain grandfathered. Grandfathered plans will be subject to severe ongoing restrictions on future benefit changes. Many of those restrictions are cumulative, meaning that grandfathered plans will be substantially locked into benefits in effect on March 23, 2010.
To help our customers determine for themselves whether they may qualify for grandfathered status, we have prepared a grandfathering checklist. This is summary information only; ask your benefits advisor or an attorney who specializes in this area for detailed advice.
Questions and answers
- What qualifies as a grandfathered plan?
- What disqualifies a grandfathered plan?
- Which health care reform provisions apply to grandfathered plans?
- How does a plan maintain grandfathered status?
