Question

Briefly define four acts: FMLA, COBRA, HIPPA, ERISA

Answer 1

FMLA or families and medical leave act of 1993 was proposed by the government to safeguard the interests of the individuals in the case they need to take a leave for various family reasons. According to the act, an individual is allowed to take an unpaid leave of up to the period of 12 weeks without having to worry about their employment.

HIPAA act or The Health Insurance Portability and Accountability Act of 1996 was brought into place to be able to regulate and at the same time publicizing the required standards for the electronic exchange, privacy and security of health information that is stored in the health records of the patients. It presents the principles which are required in the requesting, viewing and obtaining of such health information by different agencies.

ERISA act or the employee retirement income security act was set in place in the year 1974 to create the rules, regulations and guidelines that are to be followed by the qualified plans and their providers in order to make sure the assets that are pertaining to this are not misused by the plan fiduciaries.

COBRA act or Consolidated Omnibus Budget Reconciliation Act was introduced in the year 1985 and provided the continued coverage of the benefits of insurance even after a certain qualifying act had occurred which would have resulted in the termination the insurance contract. It provides the group health benefits to the employees and their families as part of this act.