15-61-102. (Effective January 1, 1996) Definitions. As used in this chapter, unless it clearly appears otherwise, the following definitions apply:
(1) "Account administrator" means:
(a) a state or federally chartered bank, savings and loan association, credit union, or trust company;
(b) a health care insurer as defined in 33-22-125;
(c) a certified public accountant licensed to practice in this state pursuant to Title 37, chapter 50; or
(d) an employer if the employer has a self-insured health plan under ERISA.
(2) "Account holder" means an individual who is a resident of this state and who establishes a medical care savings account or for whose benefit the account is established.
(3) "Dependent" means the spouse of the employee or account holder or a child of the employee or account holder if the child is:
(a) under 23 years of age and enrolled as a full-time student at an accredited college or university or is under 19 years of age;
(b) legally entitled to the provision of proper or necessary subsistence, education, medical care, or other care necessary for the health, guidance, or well-being of the child and is not otherwise emancipated, self-supporting, married, or a member of the armed forces of the United States; or
(c) mentally or physically incapacitated to the extent that the child is not self-sufficient.
(4) "Eligible medical expense" means an expense paid by the employee or account holder for medical care defined by 26 U.S.C. 213(d) for the employee or account holder or a dependent of the employee or account holder.
(5) "Employee" means an employed individual for whose benefit or for the benefit of whose dependents a medical care savings account is established. The term includes a self-employed individual.
(6) "ERISA" means the Employee Retirement Income Security Act of 1974, Public Law 93-406.
(7) "Medical care savings account" or "account" means an account established with an account administrator in this state pursuant to 15-61-201.
History: En. Sec. 2, Ch. 295, L. 1995.
