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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But, if an individual changes carriers and buys a similar policy, the new policy will still lose grandfathered status, officials say.
Grandfathers can shop around
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.
National Health Care Reform: The Keys to Maintaining Grandfathered Status (If Desired) and Upcoming Notice Obligations
To be sure, even grandfathered health plans do have to incorporate some new requirements this year.
New rules provide health plan guidance
The Labor Department also is auditing plans' compliance with provisions that affect both grandfathered and non-grandfathered plans, such as the requirement that plans offering dependent coverage make dependent coverage available to adult children up to age 26.
Proskauer Rose: Feds Are Auditing PPACA Compliance
If a change to a trust is desired, taxpayers want to be certain that the anticipated revision will not taint the trust's grandfathered status.
Grandfathered trust modification permitted
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.
BURBANK CAN'T FORCE FLIGHT CURFEW AT AIRPORT, FAA RULES
The repeal of the 15% excess distributions tax alleviates the need to be concerned about excess distributions or to keep track of unrecovered grandfathered amounts.
Recovering the 15% excise tax under the TRA '97
For small nonprofit organizations without a grandfathered Sec.
Nonprofit supplemental pension plans after 1993
Making the grandfather election does not eliminate the potential excise tax, since the grandfathered amount is included to determine if the excise tax applies.
Estate taxes and retirement plans
Therefore, taxpayers contemplating an exchange of an older insurance or annuity contract should consider the possible loss of grandfathered benefits before such an exchange.
Annuity contract received in Sec. 1035 exchange did not retain original contract's grandfather status

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