The DOL has decided that HSA account holders are entitled to receive the same protection as IRA owners. (Photo: Shuttesrtock)

They may not be retirement accounts per se, but health savings accounts are subject to the Department of Labor’s fiduciary rule.

InsuranceNewsNet reports on alert sent out by the Wagner Law Group, which warns that those who provide advice on HSAs may be considered fiduciaries subject to the DOL rule if their communications amount to investment recommendations.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events.
  • Access to other award-winning ALM websites including and

Already have an account?



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.