Could your health care lose its “grandfather” status?

The US Department of Labor in conjunction with the Department of Health & Human Services has released a list of FAQs about the loss of certain health care provisions due to the Affordable Care Act. This is the sixth such set of “FAQs” issued by the organizations to help clear up which employees or persons may lose a portion of their coverage as the new law comes into play. This set deals with how to determine whether a decision counts as a “bona fide employment-based reason” to eliminate a plan used by employees to be transferred into a new benefit plan once the law is enacted. It also covers the classification of “generic” prescription drugs and how this may impact the grandfather status of a given plan.

You can find the FAQs here.

About thebenefitblog

Eric is a Producer at Lockton Insurance Brokers, Inc., the world’s largest privately held commercial broker. Eric has over 23 years of experience in the insurance industry and has spent the last 11 years with Lockton. Eric specializes in Health & Welfare Benefits, Retirement Planning, and Executive Benefits. Eric's clients utilize his expertise in the areas of Plan Due Diligence, Transaction Structure, Fiduciary Oversight, Investment Design, Compliance and Vendor negotiation to improve the operational & financial outcome for each client. The Benefit Blog is a place to share that expertise and industry news.
This entry was posted in Disability Insurance, Executive Benefits, Group Life, Health, Health & Welfare, Health Reform, News & Updates, Voluntary Benefits. Bookmark the permalink.

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