According to the Employee Retirement Income Security Act (ERISA), all employees under a welfare benefit plan are protected and consistently informed of any news, information or research performed. They also set the standards for employee benefit plans. The requirements set defined by the federal law cover all administrative aspects of retirement and employee benefit plans.
Even if you go through an insurance broker for your company’s health and employee benefit plans, it’s a good idea to have an understanding of the requirements held by ERISA as well as the benefits they cover.
Dial 800-903-6066 and get free consultation on Employee Benefit Plan Requirements
If you are under an insurance contract, you are obligated to distribute plan information to all employees. This information must be given by the time the plan goes into effect or during an employee’s orientation. Always be sure that your insurance broker or agent is in compliance with the ERISA requirements.
Todd Taylor with Taylor Benefits gives our small business the kind of personal service we need. Insurance benefits are important to our employees and Todd helps us find a balance between benefits and value. Todd responds immediately to my phone calls & e-mails. He has even gotten in touch with me on a Sunday when we were in need of coverage answers immediately. We are very pleased with the hands-on service Todd and his staff provide.”
-Ken and Linda Orvick, Orvick Management Group, Inc.
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