31A-32a-104 - Administration of medical care savings account.
31A-32a-104. Administration of medical care savings account.
(1) An account administrator shall administer the medical care savings account fromwhich the payment of claims is made and has a fiduciary duty to the person for whose benefit theaccount administrator administers an account.
(2) (a) Except as provided in Subsection 31A-32a-105(1), the account administrator shalluse the funds held in a medical care savings account solely for the purpose of paying orreimbursing the employee or account holder for eligible medical expenses of the employee oraccount holder or of the employee's or account holder's dependents.
(b) The commissioner shall adopt rules concerning the coordination of benefits betweena medical care savings account and medical expenses payable from automobile insurancepolicies, workers' compensation insurance policies, or other health care insurance policies orcontracts.
(3) The employee or account holder may submit documentation of eligible medicalexpenses paid by the employee or account holder in the taxable year to the account administrator,and the account administrator shall reimburse the employee or account holder from theemployee's or account holder's account for eligible medical expenses.
(4) If an employer makes contributions to a medical care savings account program on aperiodic installment basis, the employer may advance to an employee an amount necessary tocover eligible medical expenses incurred that exceed the amount in the employee's medical caresavings account at the time the expense is incurred if the employee agrees to repay the advance.
Amended by Chapter 389, 2008 General Session