What employee benefits are you entitled to?

by | Dec 19, 2019 | Uncategorized |

The Employee Retirement Income Security Act (ERISA) sets minimum requirements for benefit plan eligibility and protects any assets placed in those plans. After a certain amount of time working for your Delaware employer, you may find yourself needing to file a claim to receive benefits.

Here are just three types of benefits that fall under ERISA protection.

Medical and healthcare benefits

Good healthcare benefits are often a highly sought-after element for people looking for a job. A general list of the medical benefits that ERISA protects includes:

  • Health insurance
  • Cancer policies
  • Wellness programs
  • Dental
  • Vision
  • Prescription drug coverage

There are even plans that cover mental health needs, while others protect you in the event of sicknesses or accidents.

Disability benefits

Just as illnesses and injuries can make it difficult for you to maintain your job, so too, can a disability make it challenging to perform your duties. Luckily, ERISA provides protection for workers with disabilities. Like with healthcare benefits, you can apply for a disability benefit policy to help you manage your personal life while still meeting your professional goals if that is your objective.

Retirement benefits

Perhaps most notably of all, ERISA protects any assets or funds that you place into your retirement savings. Once you reach retirement, the plans you set aside should be ready and waiting for you. ERISA protects most employer-sponsored plans such as 401(k).

What if my employer violates ERISA?

In the unfortunate event that your employer does not act in accordance with ERISA, you should take action. Employers who deny you your benefits stand in the way of your well-being. Some behaviors that count as a violation of ERISA include:

  • Not disclosing plan details and information
  • Breaching fiduciary duty
  • Withholding or spending plan funds

ERISA exists to protect your health and livelihood. Make sure that you receive the benefits you need for a secure and stable future.