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ERISA, highlights from CFSAC meeting, and where to find more information

Lisa Alexander spoke about ERISA as a representative from the U.S. Department of Labor. More precisely, Ms. Alexander's serves as Chief of the Division of Coverage, Reporting and Disclosure, which is one of the divisions that make up the Office of Regulations and Interpretations. The latter, along with multiple other offices, form the Employee Benefits Security Administration (EBSA), a federal agency within the U.S. Department of Labor.

It is important for consumers to know at least this much regarding the breakdown of this complex organizational structure. First, consumers will get a better understanding of which division is responsible for the management of programs they might be using.

Second, it is always good to know where to find help and accurate information about programs before there is a problem.

Much of what Ms. Alexander discussed is overseen by EBSA. This agency is involved with ERISA provisions, COBRA and other health insurance plans and has a huge amount of information available at its website.

The link to the main EBSA website is provided at the end of this article and it could be tremendously helpful, not only for ERISA matters, but also numerous insurance and heath laws-an area which is rapidly changing.

Now to address the acronym of ERISA, which has been mentioned several times already. It refers to the Employee Retirement Income Security Act of 1974. ERISA is a federal law that sets minimum standards for most voluntarily established pension and health plans in private industry which provide protection for individuals in these plans.

Some important points to highlight from Ms. Alexander's presentation is that changes can be made to a plan or to conditions covered by a plan which, in turn, could change or terminate coverage in some cases. Insured individuals should receive a notice informing them about any modifications or exclusions to their plan, within a certain time frame.

If or when individuals have problems with coverage for plans overseen by EBSA, have questions, or could use assistance from one of the benefits advisors, Ms. Alexander urged that people call the EBSA's toll-free number: 1 (866) 444-EBSA (3272).