The federal ERISA statutes govern disability income policies and mandate strict timelines for each aspect of the claim process. These regulations help ensure timely resolutions of claims. After receiving a formal claim denial, the plan holder can appeal the insurer’s...
The Employee Retirement Income Security Act (ERISA) regulates private employer-sponsored health insurance plans. Employees, in private industries, across the country have ERISA-sponsored healthcare plans. In fact, about 54 percent of workers earn retirement benefits...
When people think of disability insurance, they often think of accidents. In truth, illness and ailments are the leading causes of short and long-term disability claims. Fewer than 10 percent of disability cases are the result of an accident. Diseases, especially...
Health savings accounts are growing in popularity. Most health savings accounts (HSA) are not subject to ERISA, the Employee Retirement Income Security Act of 1974. This federal law established protections for participants in certain health and retirement plans, such...
A recent ruling from the U.S. Supreme Court is a major victory for all church-affiliated hospitals. The justices ruled 8-0 that such organizations are exempt from the Employee Retirement Income Security Act (ERISA), a law which is aimed at protecting pension plan...
A common employer-provided benefit is accidental death and dismemberment (AD&D) insurance. This is similar to life insurance in that the policy will pay out a sum of benefits in the event of an accidental death or an accident that costs someone their sight,...
No one has to tell you how difficult it can be to do your job every day when dealing with the effects of a mental illness. Unfortunately, a stigma seems to persist by people who think they need to see physical signs of an illness or disability to believe that it is...
If you work in the private industry and have a pension plan, you have probably heard of ERISA. Despite its importance for workers and employers, many people do not become familiar with it until a less than ideal situation forces them to learn about it. Fortunately,...
No one really wants to purchase health insurance or accidental death and dismemberment coverage, whether at work or on the individual market. You buy it because it will provide the protection you need when you or a loved one need it. Unfortunately, your insurer is...
Many individuals with employer-sponsored ERISA plans have questions when facing the possibility of filing a disability claim. What is the difference between short-term disability and long-term disability insurance? How long do benefits last for? And, most importantly,...