- Apr 15, 2007
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So why exactly does H.R. 3200 include this provision?
That is saying that after 5 years your plan (that you are happy with and "can keep") will HAVE TO BE CHANGED to meet new government requirements.
There you have it folks. You will NOT be able to keep your current plan, even if you are happy with it.
http://www.opencongress.org/bill/111-h3200/text* (b) Grace Period for Current Employment-based Health Plans-
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o (1) GRACE PERIOD-
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+ (A) IN GENERAL- The Commissioner shall establish a grace period whereby, for plan years beginning after the end of the 5-year period beginning with Y1, an employment-based health plan in operation as of the day before the first day of Y1 must meet the same requirements as apply to a qualified health benefits plan under section 101, including the essential benefit package requirement under section 121.
That is saying that after 5 years your plan (that you are happy with and "can keep") will HAVE TO BE CHANGED to meet new government requirements.
There you have it folks. You will NOT be able to keep your current plan, even if you are happy with it.