How ERISA Affects Medical Practices

Posted: December 21, 2013 in Uncategorized
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Web Link: http://www.physicianspractice.com/law-malpractice/how-erisa-affects-medical-practices
The Employee Retirement Income Security Act of 1974 (ERISA), is a federal law that was originally intended to protect employee benefits and pensions. The current judicial interpretation allows health insurance companies to deny employee claims with impunity. Under the law, instead of protecting the employee, governments and charities are can be sued for punitive damages and attorney’s fees for bad faith claims practices.

Many critics are now wishing that this law had never been established due to its apparent reverse nature. Although it was originally intended to protect benefit plan participants, the opposite has taken shape. If you feel that your practice is feeling this law’s effects, you may want to look into this law and how it could affect your bottom line.

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