I encountered someone on a consumer forum with an old, old Am National indemnity plan he bought 23 years ago.
I thought all of these plans have been terminated, but apparently not.
Typical of what they sold in the old days with daily hospital limits, etc.
He never bothered to change it since he thought it was grandfathered.
He is 60, spouse 57. He was upset because his premium is $800/mo (vs $200 when he started the plan in 1991).
Of course the plan is inadequate should he ever really need it, and a new Obamacare plan will be a lot more than $800.
Is this plan grandfathered and can he keep it without penalty? Will AMNICO eventually be required to cancel it or can he keep it until 65?
I thought all of these plans have been terminated, but apparently not.
Typical of what they sold in the old days with daily hospital limits, etc.
He never bothered to change it since he thought it was grandfathered.
He is 60, spouse 57. He was upset because his premium is $800/mo (vs $200 when he started the plan in 1991).
Of course the plan is inadequate should he ever really need it, and a new Obamacare plan will be a lot more than $800.
Is this plan grandfathered and can he keep it without penalty? Will AMNICO eventually be required to cancel it or can he keep it until 65?