By Christine H. Monahan, Kennah Watts, Miles Conde, Karen Handorf
Almost half of america’ non-elderly inhabitants—136 million People—are enrolled in medical health insurance protection regulated by the Worker Retirement Earnings Safety Act of 1974 (ERISA). As well being care grows more and more unaffordable for each employers and employees, coverage and authorized consultants need to ERISA as a mechanism to restrain well being plan spending. But few individuals at present can clarify ERISA’s core options.
ERISA 101: Key Phrases and Ideas breaks down ERISA’s complicated authorized jargon to assist policymakers as they craft reforms to enhance the affordability of employer-sponsored medical health insurance. On this explainer, you’ll study:
- ERISA Fundamentals: What constitutes ERISA well being plans vs. non-ERISA plans
- Plan Parts: What are plan paperwork and plan property, and why they matter
- Key Gamers: Who’re the important thing gamers concerned in ERISA well being plan oversight and administration
- Authorized Necessities: What authorized labels and obligations connect to those gamers
- Preemption: How ERISA preemption pertains to affordability
Learn the complete truth sheet right here. For extra dialogue concerning ERISA’s position in efforts to cut back well being care spending, learn Is ERISA Up for the Job? Enhancing Employer-Sponsored Well being Insurance coverage Affordability.