Summary
The following features of the federal law known as ERISA are of interest to people with a life-challenging health condition:
- Because of ERISA, you cannot be discriminated against for filing a health claims.
- ERISA codifies COBRA continuation of health benefits rights
- ERISA guarantees Defined Pension Plan Benefits
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More Information
Enforcement Of Your Right To Information And Copies Of Documents How To Request A Copy Of The Summary Plan Description And other Plan Documents The Summary Plan Description And Other Information To Which You're Entitled ERISA Terms To Know ERISARelated Articles
COBRA Americans With Disabilites ActERISA And An Employee's Rights To COBRA Continuation of Health Benefits
COBRA is the name generally given to the federal laws which require that people have a right to extend their health insurance after they stop working. While the provisions were originally included in the Consolidated Omnibus Budget Reconciliation Act of 1985, they were codified in ERISA.
ERISA And Guarantee of Defined Benefit Pension Plans
ERISA created a fund, known as The Pension Benefit Guaranty Corporation, to guarantee employees that the money due them will be there when needed in case their Defined Benefit Pension Plan falls short.
The fund is similar in concept to the Federal Deposit Insurance Corporation (FDIC) that protects banks' assets for depositors.
Defined Benefit Pension Plans pay an amount like a premium into the Pension Benefit Guaranty Fund based on the Pension Plan's assets.
The fund does not cover any other types of employee plans such as a defined contribution (vs. benefit) plan.