What major federal law impacts healthcare coverage for employees in Colorado?

The Employee Retirement Income Security Act (ERISA) is a significant federal law that affects healthcare coverage for employees in Colorado. ERISA sets standards for private industry pension plans and establishes requirements for health insurance plans offered by employers. It provides regulations surrounding plan fiduciaries, participants' rights, and the disclosure of information about these plans.

ERISA's importance lies in protecting employee benefits and ensuring that employees have access to reliable health insurance coverage through their employers. It also governs issues related to claims processing, which is crucial for ensuring that beneficiaries receive the benefits entitled to them without undue delay or denials.

The other options, while also significant in the realm of healthcare and insurance, focus on different aspects: the Affordable Care Act primarily aims to increase healthcare coverage and affordability, COBRA addresses the continuation of health coverage after leaving employment, and HIPAA deals with privacy and security of health information. Each of these laws plays a vital role in the healthcare system, but ERISA is foundational in structuring and regulating employee benefits at the federal level.