What does ERISA require?
ERISA doesn’t tell you what kinds of benefits you have to provide or how many. It only sets rules for managing employer-sponsored health care. Most of these have to do with providing and reporting information. For example, you must:
- Provide a summary plan description to employees that includes information about the plan’s premiums, deductibles, copays and more
- File an annual report with the federal government
- Meet certain standards, such as nondiscrimination in premiums and eligibility