Employee Benefits Security Administration Releases Second Field Assistance Bulletin on Health Savings Accounts

Archived News Release — Caution: Information may be out of date.

Washington - The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) today released Field Assistance Bulletin (FAB) 2006-02 that provides guidance to field investigators on recurring questions about the guidance in FAB 2004-1 and evolving practices regarding the offering of health savings accounts (HSAs) in the workplace.

In April 2004, the department issued FAB 2004-1 addressing the coverage of HSAs under ERISA. That guidance explained that HSAs generally will not constitute "employee benefit plans" covered by Title I of ERISA where there is limited involvement by the employer. The FAB released today addresses whether particular conduct by employers in connection with an HSA arrangement exceeds the conditions in FAB 2004-1, such as paying fees in association with establishing an HSA. The FAB also addresses the applicability of the prohibited transaction provisions of section 4975 of the Internal Revenue Code to HSAs that meet the conditions of FAB 2004-1 and are not covered by Title I of ERISA.

The FAB is part of the department's ongoing compliance assistance program to help employers, plan officials, service providers and others comply with ERISA. Field Assistance Bulletins are available on the Internet at www.dol.gov/ebsa.

U.S. Department of Labor news releases are accessible on the Department's Newsroom page. The information in this news release will be made available in alternate format upon request (large print, Braille, audio tape or disc) from the COAST office. Please specify which news release when placing your request at 202.693.7765 or TTY 202.693.7755. The U.S. Department of Labor is committed to providing America's employers and employees with easy access to understandable information on how to comply with its laws and regulations. For more information, please visit the Department's Compliance Assistance page.

Archived News Release — Caution: Information may be out of date.

Contact Name: Gloria Della
Phone Number: 202.693.8664