Is Group Life Insurance An Erisa Plan?

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   Jim Winkler

   CEO/Owner, Winkler Financial Group, Houston, Texas

   That is a great question! To be an ERISA plan, the group policy has to be paid for by the company and the employees - not an insurance company. It is A Federally regulated plan, so there has to be a defined plan in place that specifically states what is covered, and what you pay. This type of plan is not very popular these days, as the employers cost is becoming increasingly expensive, and as employees age and file more claims, more and more unprofitable, and in many cases, underfunded as the amounts determined by employers back in the day weren't enough to keep up with the rising costs of health care. As a result, most plans offered by employers are not this type of plan. If you would like more specific information, please feel free to contact me, I'm happy to help. Thanks for asking!

   Answered on May 8, 2014

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