(Photo: Mike Scarcella/ALM)
Much has been said about the Department of Labor's controversial new Fiduciary Rule, which has been facing a series of legal challenges. The rule is largely aimed at retirement plans; however, the DOL did not provide sufficient guidance for health plans that include health savings accounts – and if HSAs have an investment component, these plans will need to be in compliance before the September 22, 2024 effective date.
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