To effectively manage legal risks and maintain ERISA compliance, healthcare providers should adopt best practices in their fiduciary responsibilities. This includes: Setting up a dedicated fiduciary committee, Conducting regular reviews of service provider agreements, Closely monitoring plan fees and expenses. The recent emphasis on transparency in fee disclosures highlights the importance of ensuring that all contractual agreements meet current regulatory standards. Additionally, enhancing privacy protocols in line with the latest HIPAA regulations is crucial. Comprehensive documentation of these processes not only demonstrates compliance but also helps build a strong defense against potential legal challenges.