15-61-102. 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;
     (d) an employer if the employer has a self-insured health plan under ERISA;
     (e) the account holder of or an employee for whose benefit the account in question is established;
     (f) a broker, insurance producer, or investment adviser regulated by the commissioner of insurance;
     (g) an attorney licensed to practice law in this state;
     (h) a licensed public accountant or a person who is an enrolled agent allowed to practice before the United States internal revenue service.
     (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; amd. Sec. 1, Ch. 296, L. 1997.