“Grandfathering” is a provision that was established to allow Americans who are satisfied with their current coverage to keep their existing plans. While it requires all health plans to provide important new benefits to consumers, it also allows plans that existed on March 23, 2010 to innovate and contain costs by allowing insurers and employers to make routine changes without losing grandfather status.
Some of the reforms that apply to grandfathered plans include the elimination of rescissions, lifetime limits, and children’s pre-existing conditions exclusions, as well as dependent coverage. Generally, grandfathered plans in Vermont can keep their preventive care benefit design (with cost-sharing), and grandfathered plans have the choice to accept young dependents (19-25) who do not have access to alternative group coverage.
Contact your insurance representative to find out more about the grandfathered status of your plan.