Final answer:
The Act that sets minimum standards for employer-provided health plans is the Patient Protection and Affordable Care Act (PPACA), which includes an employer mandate for companies with over 50 employees.
Step-by-step explanation:
The Act responsible for setting certain minimum standards for employer-provided health plans is the Patient Protection and Affordable Care Act (PPACA). This law, commonly known as Obamacare, was signed by President Obama in March of 2010. One of its key provisions includes the employer mandate, which requires all employers with more than 50 employees to offer health insurance to their workers.
Furthermore, PPACA aims to bring the United States closer to universal health coverage. This comprehensive health law began to be phased in starting from October of 2013. Although PPACA has multiple components, the most relevant to employer-sponsored health plans is the employer mandate. It is different from other acts like COBRA, ERISA, and HCERA, which also address various aspects of health insurance and employment benefits.