ERISA:
1. Governs the retirement benefit plans of employees.
2. Law doesn’t just cover the retirement plan; it also affects the health care benefits not only when retired, but when they are active.
3. 75% of employees are covered by an insurance plan which is covered by ERISA.
4. DIAGRAM: Center is the plan which covers the employee. The plan is often administered by an entity outside the employer’s jurisdiction by a Managed Care Organization (third party administrator). They contract with health care providers who work with the employee as the patient.
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