Category: ERISA

Private employers’ retirement plans in California and elsewhere are regulated by the Employee Retirement Income Security Act of 1974. Although this law focuses mostly on retirement plans, it has provisions that affect disability insurance plans offered by private employers as well. Understanding the protections afforded by ERISA is important for protecting one’s rights. First, according […]

Earlier this month, our blog discussed how many employees likely made the prudent decision to secure disability insurance via their employer during the recent open enrollment period, understanding that while group disability insurance is typically less exhaustive than private disability insurance, some coverage is certainly better than none. Furthermore, we discussed these employees should derive […]

Earlier this week, our blog began discussing how the practice of “upselling,” meaning getting people to purchase more than they intended, is rampant in more than just the consumer realm, including even the critically important area of life insurance. In particular, we discussed how some insurance agents, eager to capitalize on a potential commission, might […]

As we’ve discussed all week, employees across the nation are currently in the middle of their annual enrollment periods, such that in the coming days they’ll not only have to make important determinations concerning their health insurance and contributions to health savings accounts, but also life insurance and disability insurance. Those employees who have made […]

Over half of the states in the U.S. have enacted or are implementing laws that ban discretionary clauses in insurance contracts. Another federal judge has upheld the law in California. These laws are designed to raise the scrutiny level that insurers must undergo when they deny a claim for benefits. The fact that the judge […]

Recently, a question was submitted to The Daily Breeze about suing a health insurance company for emotional stress. The patient was being seen in the emergency room after fainting and was having some tests done. The patient’s health insurance company told the hospital that the policy had been canceled because the premium wasn’t paid. The […]

The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets national standards for private employer-based health insurance and disability benefit plans. ERISA does not apply to plans purchased by individuals and that an employer does not offer. The simplest way to understand ERISA is to remember this: If your insurance […]

Professional athletes understand that injuries are guaranteed in their line of work. As a result, many pro athletes or their teams purchase private individual disability coverage to protect their livelihood and income from the risk of physical disability. However, some athletes may also take advantage of disability plans provided by professional sports associations. Many do […]

An Oklahoma workers’ compensation case is under review by the state’s Supreme Court. At issue is whether the Oklahoma Employee Injury Benefit Act is constitutional and enforceable. In February, the Oklahoma Workers’ Compensation Commission ruled in Vasquez v. Dillards that “the benefit plans permitted to be used to opt-out establish a dual system under which […]

A lawsuit filed against investment giant Morgan Stanley represents about 60,000 participants in a 401(k) plan. The lawsuit, which was filed in U.S. District Court in New York, claims that Morgan Stanley failed to monitor the investment perform as required by Employee Retirement Income Security Act. The complaint states that Morgan Stanley didn’t honor its […]