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Employee Retirement Income Security Act of 1974 (ERISA)

Legislation enacted in 1947 that protects workers from losing benefits that are provided through the workplace. The Act does not require employers to establish a benefit plan for employees but does include requirements for the plan when one is in place.

Co-insurance

A health insurance cost-sharing method in which there is a percentage of medical claims paid by the plan member after the deductible has been met…