Health plan providers may face the similar detailed fee disclosure requirements as retirement plan providers under the Department of Labor’s (DOL) 408(b)(2) regulations.  ERISA Diagnostics Inc., a benefits consulting firm, called this prospect to the attention of its clients in a recent ERISA Alert after digging through the fine print of the Obama Administration’s FY 2016 budget proposals.

The firm also pointed to recent litigation that has trained the spotlight on fees charged by health plan administrators that have been deemed to violate their fiduciary duties to the plan.

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