Retirement has a way of sneaking up on you. Time really does slip away from you. When I realized it was time for me to retire, it felt like just a day before that I began my career at a top marketing firm. In seemingly no time whatsoever, I found myself wondering, “what does ERISA mean?”
If you are in your late forties, or even your mid thirties, it is not a bad idea to start researching the ERISA act, and possibly finding a good disability claims lawyer. ERISA law was constructed to work in your favor…if you know how to utilize it properly and make the most of the benefits that could await you. As you get older, the ERISA laws will become more and more important to your health and your bank account.
So, what does ERISA mean? ERISA is the Employee Retirement Income Security Act of 1974. It is a law that protects both your health and disability benefits. It also sets certain standards for the companies who administer your plan. What does ERISA mean? It means that there are requirements put forth which protect your benefit claims. It means that there is a law which is on your side.
You may need to enlist the services of an attorney to figure out the most accurate answer to the question, “what does ERISA mean for me and my family?” Sometimes businesses try to eschew the ERISA laws, but with an attorney, you can make sure that you are receiving all the benefits you truly deserve.
But what does ERISA mean in light of the Affordable Care Act (ACA)? It means that your health plans will only be improved upon. Once the ACA takes effect, your health plan coverage will not only be guaranteed, but it will be ensured to be of better quality. What does ERISA mean for you? It means protection, and comprehensive health coverage.