No, not this kind of Grandfathered.
The simplest answer is, it depends.
According to healthcare.gov: Grandfathered Plans are those that already existed before 03/10/2010 and kept the grandfathered status. Insurers have to notify you by law if they are grandfathered. If you are unsure whether or not your plan is grandfathered, you can either review your plan materials or contact your employer or HR personnel.
Does it matter?
Here is a glance of some pros and cons to a grandfathered plan taken from healthcare.gov.
All health plans (including Grandfathered plans) must:
Grandfathered plans DON’T have to:
We hope this helps you understand whether or not you would be happy with your grandfathered health insurance plan. Now, go hug your grandpa.
…oh wait, not that kind of Grandfather.
Much of the content from this blog was adapted from https://www.healthcare.gov/health-care-law-protections/grandfathered-plans/
It was also written by Stephanie Haltiner, a Health Insurance Specialist.
Unlike big insurance agencies, we don't sell your information to high pressure insurance agents. Your information is just to connect with Tim.