31A-32a-102. Definitions.
As used in this chapter:
(1) "Account administrator" means any of the following: a depository institution as defined in Section; 7-1-103 a trust company as defined in Section; 7-1-103 an insurance company authorized to do business in this state under this title; a third party administrator licensed under Section; and 31A-25-203 an employer if the employer has a self-insured health plan under ERISA.
(2) "Account holder" means the resident individual who establishes a medical care savings account or for whose benefit a medical care savings account is established.
(3) "Deductible" means the total deductible for an employee and all the dependents of that employee for a calendar year.
(4) "Dependent" means the same as "dependent" under Section. 31A-30-103
(5) "Eligible medical expense" means an expense paid by the taxpayer for: medical care described in Section 213(d), Internal Revenue Code; the purchase of a health coverage policy, certificate, or contract, including a qualified higher deductible health plan; or premiums on long-term care insurance policies as defined in Section. 31A-1-301
(6) "Employee" means the individual for whose benefit or for the benefit of whose dependents a medical care savings account is established. Employee includes a self-employed individual.
(7) "ERISA" means the Employee Retirement Income Security Act of 1974, Public Law 93-406, 88 Stat. 829.
(8) "Higher deductible" means a deductible of not less than $1,000.
(9) "Medical care savings account" or "account" means a trust account established at a depository institution in this state pursuant to a medical care savings account program to pay the eligible medical expenses of: an employee or account holder; and the dependents of the employee or account holder.
(10) "Medical care savings account program" or "program" means one of the following programs: a program established by an employer in which the employer: purchases a qualified higher deductible health plan for the benefit of an employee and the employee's dependents; and contributes on behalf of an employee into a medical care savings account; or a program established by an account holder in which the account holder: purchases a qualified higher deductible health plan for the benefit of the account holder and the account holder's dependents; and contributes an amount to the medical care savings account.
(11) "Qualified higher deductible health plan" means a health coverage policy, certificate, or contract that: provides for payments for covered benefits that exceed the higher deductible; and is purchased by: an employer for the benefit of an employee for whom the employer makes deposits into a medical care savings account; or an account holder.