One true statement about the Employee Retirement Income Security Act of 1974 (ERISA) is that:

ERISA applies to all issuers of health insurance products, such as HMOs

pension plans and employee welfare plans are exempt from any regulation under ERISA

ERISA requires self-funded plans to comply with all state mandates affecting health insurance companies and health plans

the terms of ERISA generally take precedence over any state laws that regulate employee welfare benefit plans