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Identify and discuss several laws that protect employee rights in retirement, savings, and insurance benefits.

Identify and discuss several laws that protect employee rights in retirement, savings, and insurance benefits.

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Expert Solution

Several laws that protect employee rights in retirement, savings and insurance benefits are:-

  • ERISA:- It stands for Employee Retirement Income Security Act. It does not require employee benefit plans but helps to protect employee rights which are established in benefit plans like pension or retirement plans, also employee welfare plans like medical plans, life insurance etc. In this law employees are accountable for promised benefits but for them we need not to create benefit plans under this law.
  • HIPAA:- HIPAA stands for Health Insurance Portability and Accountability Act. HIPAA regulates health plans and helps to protect privacy regarding health care information, protects against discrimination based on pre-existing medical conditions.
  • COBRA:- COBRA stands for Consolidated Omnibus Budget Reconcillation Act. It protects health insurance benefits for those employees who are leaving the organization/ getting fired. College students who are graduate and not covered under parent's health insurance then till getting job they can take coverage under COBRA.

keosha answered 2 years ago
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