If this group gets its wish, you won’t have to worry about all of those strict standards your firm’s health plan has to meet to keep its grandfathered status under the health reform law.
According to House Republican leaders, there are several House committees that plan to draft legislation to repeal the grandfathered rules of the health reform law.
Right now, to keep a grandfathered status, a health plan can’t increase coinsurance requirements or bump up the premium percentage paid by plan participants by more than 5%, among other things.
When plans don’t comply with these rules, they are no longer exempt from complying with certain key reform law provisions.
House Majority Leader Eric Cantor (R-VA) said the House Education and Labor, Energy and Commerce and Ways and Means committees, will “soon” develop legislation to repeal the grandfathered rules.
But don’t get your hopes up.
Last year, the Senate prevented a similar proposal to cancel the reform law’s grandfathered rules from getting passed. We’ll keep you posted.