What act mandated reporting and disclosure requirements for group life and health plans, permitted large employers to self-insure employee health care benefits, and exempted large employers from taxes on health insurance premiums?

The Employee Retirement Income Security Act (ERISA) is the legislation that established important reporting and disclosure requirements for group life and health plans. It was designed to protect workers' benefits in private pension and health plans, ensuring that participants are informed about their benefits and the plan's financial health. Under ERISA, large employers are allowed to self-insure employee health care benefits, which means they can pay for healthcare costs directly rather than purchasing insurance policies. This self-insurance option provides flexibility and can sometimes reduce costs for large employers. Additionally, ERISA exempts these large employers from certain taxes on health insurance premiums, which further incentivizes them to provide health benefits directly to employees.

The other acts listed do not encompass all these elements:

• FELA (Federal Employers Liability Act) primarily addresses railroad worker safety and doesn’t cover health insurance provisions.

• ARRA (American Recovery and Reinvestment Act) was focused more on economic recovery and included various provisions concerning healthcare but did not specifically mandate the reporting and disclosure requirements pertinent to group health plans.

• PPACA (Patient Protection and Affordable Care Act) primarily focuses on expanding healthcare coverage and implementing various reforms in the healthcare system rather than the specifics of reporting and self-insurance regarding large employers outlined in ER