(1) "Account administrator" means any of the following: (a) a depository institution as defined in Section 7-1-103; (b) a trust company as defined in Section 7-1-103; (c) an insurance company authorized to do business in this state under this title; (d) a third party administrator licensed under Section 31A-25-203; and (e) an employer if the employer has a self-insured health plan under ERISA.

(a) a depository institution as defined in Section 7-1-103;

(b) a trust company as defined in Section 7-1-103;

(c) an insurance company authorized to do business in this state under this title;

(d) a third party administrator licensed under Section 31A-25-203; and

(e) 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: (a) medical care described in Section 213(d), Internal Revenue Code; (b) the purchase of a health coverage policy, certificate, or contract, including a qualified higher deductible health plan; or (c) premiums on long-term care insurance policies as defined in Section 31A-1-301.

(a) medical care described in Section 213(d), Internal Revenue Code;

(b) the purchase of a health coverage policy, certificate, or contract, including a qualified higher deductible health plan; or

(c) 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: (a) an employee or account holder; and (b) the dependents of the employee or account holder.

(a) an employee or account holder; and

(b) the dependents of the employee or account holder.

(10) "Medical care savings account program" or "program" means one of the following programs: (a) a program established by an employer in which the employer: (i) purchases a qualified higher deductible health plan for the benefit of an employee and the employee's dependents; and (ii) contributes on behalf of an employee into a medical care savings account; or (b) a program established by an account holder in which the account holder: (i) purchases a qualified higher deductible health plan for the benefit of the account holder and the account holder's dependents; and (ii) contributes an amount to the medical care savings account.

(a) a program established by an employer in which the employer: (i) purchases a qualified higher deductible health plan for the benefit of an employee and the employee's dependents; and (ii) contributes on behalf of an employee into a medical care savings account; or

(i) purchases a qualified higher deductible health plan for the benefit of an employee and the employee's dependents; and

(ii) contributes on behalf of an employee into a medical care savings account; or

(b) a program established by an account holder in which the account holder: (i) purchases a qualified higher deductible health plan for the benefit of the account holder and the account holder's dependents; and (ii) contributes an amount to the medical care savings account.

(i) purchases a qualified higher deductible health plan for the benefit of the account holder and the account holder's dependents; and

(ii) contributes an amount to the medical care savings account.

(11) "Qualified higher deductible health plan" means a health coverage policy, certificate, or contract that: (a) provides for payments for covered benefits that exceed the higher deductible; and (b) is purchased by: (i) an employer for the benefit of an employee for whom the employer makes deposits into a medical care savings account; or (ii) an account holder.

(a) provides for payments for covered benefits that exceed the higher deductible; and

(b) is purchased by: (i) an employer for the benefit of an employee for whom the employer makes deposits into a medical care savings account; or (ii) an account holder.

(i) an employer for the benefit of an employee for whom the employer makes deposits into a medical care savings account; or

(ii) an account holder.