grandfather clause

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Any policy or rule that exempts a group of individuals, organizations, or drugs from meeting new standards or regulations—e.g., when a new subspecialty board in internal medicine is created, the physicians practising in that area may be ‘grandfathered’ into the subspecialty and not required to meet residency or other educational requirements

grandfather clause

Any policy or rule that exempts a group of individuals, organizations, or drugs, from meeting new standards or regulations; eg when a new subspecialty board in internal medicine is created, the physicians practicing in that area may be 'grandfathered' into the subspecialty and not required to meet residency or other educational requirements
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if an employer enters into a new policy, certificate or contract of insurance after March 23, 2010, then that new policy, certificate or contract of insurance is not a grandfathered plan with respect to individuals in the group health plan.
For example, if a plan increases, from to 20% to 21%, the percentage of co-insurance a participant must pay for out-of-network coverage, the plan will lose its grandfathered status;
To be sure, even grandfathered health plans do have to incorporate some new requirements this year.
These regulations provide guidance on the types of modifications, constructions and settlement of controversies that can be freely made to an exempt trust by a trustee, without endangering the trust's grandfathered status and without prior IRS authorization or approval.
In either case, a grandfathered supplemental benefit plan cannot be used to provide a benefit for employees hired after 1986.
A's excess retirement accumulation is determined as follows: $2,000,000 minus the greater of (1) $1,010,000 (A's unused grandfathered amount) or (2) $898,751.
Additional information on permitting grandfathered sources can be found at: http://www.
1035 exchange could jeopardize grandfathered tax benefits for their existing insurance or annuity contracts.
Any modification of a grandfathered debt instrument should be very carefully scrutinized in light of the proposed regulations.
The case was reinstated because the Court of Appeals held that the Complaint sufficiently stated a claim that the EPR retirees receiving the "enhanced grandfathered benefit" were discriminated against as compared to retirees receiving the ordinary "grandfathered benefit" under the plan.
If, however, a grandfathered arrangement is "substantially" modified, its protected status is revoked.
Burbank had claimed a curfew and a noise budget could be grandfathered in because local noise restrictions were put in place in 1977, well before the 1990 national law was enacted.