That change could create new ways for plan employers to get into trouble.

Their problems with collections could give employers room to negotiate.

The authors make the case that employers and benefits professionals have a responsibility to make the system work better.

For plan sponsors, the Healthcare Price Transparency Executive Order has far-reaching implications, offering opportunities to manage costs more effectively, enhance plan sustainability and deliver clearer value to employees.

By being prepared and implementing strategic solutions, employers can mitigate some of the financial pressures that may arise from the IRA, ensuring that their employees and retirees are better protected from the ripple effects of this landmark legislation.

As benefits advisors, it is crucial to understand the nuances of this legislation and explore how plan sponsors can proactively assist employees in managing health care costs and avoid the burden of medical debt.

Given recent increased litigation and its impact on the regulatory environment, benefits consultants and plan sponsors should rethink their past decisions to simply comply with the No Surprises Act (NSA).

For benefits professionals, administering employer sponsored health plans and providing employee participants with access to affordable, quality health care is one of the greatest economic challenges of today — and the foreseeable future.