EXECUTIVE ORDER ON HEALTH COSTS TO AFFECT EMPLOYER HEALTH PLANS

President Donald Trump recently signed an executive order aimed at improving price and quality transparency in health care. The order is intended to increase availability of health care price and quality information and protect patients from surprise medical bills.

What’s in the Order? Specifically, the order is aimed at:

• Eliminating unnecessary barriers to price and quality transparency

• Increasing the availability of meaningful price and quality information for patients

• Enhancing patients' control over their own health care resources, including through tax-preferred medical accounts

• Protecting patients from surprise medical bills

Employer Impact

Within 120 days, the order directs the Treasury to issue guidance to expand access to high-deductible health plans.

Additionally, the order directs the Treasury to propose regulations within 180 days to:

• Treat expenses related to certain types of arrangements—potentially including direct primary care arrangements and health care sharing ministries—as eligible medical expenses

• Increase the amount of funds that can carry over without penalty at the end of the year for flexible spending accounts

To learn more about how this order might affect you, speak with our RCB & Associates, LLC agents today, 616-233-9050. Consider subscribing to our monthly Benefits Buzz news for employers.