Support is especially critical to lower-salaried employees, who are more likely to delay or forgo preventive care, regular check-ups, surgeries, and even dental appointments, which were delayed by COVID.

Expert estimates suggest that up to a tenth of all health care spending might be swallowed by fraudulent operations. The insurance industry insists it's vigilantly safeguarding these funds, but the unnerving reality reveals a different story.

The new legislation will remove barriers for many small businesses, however, some are reporting they don't have the bandwidth or resources to deal with these benefit issues, according to a Fidelity report.

The ERISA Industry Committee, an employer advocacy group, implored the IRS in a letter to clarify how sponsors can implement new SECURE 2.0 features - and also offered recommendations for improving health care benefits.