ERISA

The Employment Retirement Income Security Act is a federal statute that establishes minimum standards for pension plans in private industries and provides for extensive rules on the federal income tax effects of transactions associated with employee benefits. While ERISA does not require that an employer provide health insurance to its employees or retirees, the statute regulates the operation of health benefit plans should an employer choose to establish one. It provides some employees and beneficiaries the right to continue their coverage under a health benefit plan for a limited time after certain events, such as loss of employment. Furthermore, ERISA prohibits a health benefit plan from refusing to cover an employee's pre-existing medical conditions in some circumstances and bars health benefit plans from certain types of discrimination on the basis of health status, genetic information or disability.