WASHINGTON, D.C. – This September will be 50 years since the enactment of the Employee Retirement Income Security Act – or ERISA – which ensured that employer self-funded health insurance coverage would be regulated at the federal level rather than subject to a patchwork of state laws.
In advance of the anniversary, today the House Education and Workforce Committee is holding a hearing examining the law and its impact. Welcoming the hearing, Protecting Americans’ Coverage Together (PACT), a coalition of employer voices dedicated to strengthening the employer sponsored insurance (ESI) system, released a joint statement in support of ERISA and urged lawmakers to protect the law.
“The employer sponsored insurance system is the largest source of health coverage for the American people, and it remains extraordinarily popular with the 160 million it supports. This success would not have been possible without ERISA. The law provides stability by guarding against a 50-state patchwork of regulations. This stability helps employers use their scale to drive affordability and allows them to innovate and respond to the health needs of employees and their families. Particularly as employers confront the rising costs of care, it is essential that lawmakers protect ERISA, guard against the erosion of federal preemption, and preserve the principles that allow ESI to drive so much value. The significance of this law cannot be taken for granted, and we commend the Education and Workforce Committee for holding this important hearing. We look forward to engaging further with Congress as we approach ERISA’s 50th anniversary later this year.”
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The Protecting Americans' Coverage Together campaign is a coalition that includes the U.S Chamber of Commerce, Business Roundtable, Vermeer Corporation, The National Association of Manufacturers and Council for Affordable Health Coverage. PACT represents leading employer voices focused on strengthening the ESI system and protecting the coverage and benefits American families depend on for their health care coverage.
