Ohio Code 3924.70 – Advances to cover employee’s eligible medical expenses
Current as of: 2024 | Check for updates
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An employer making deposits to an employee’s medical savings account on a periodic installment basis may advance to the employee, interest free, an amount needed to cover the employee’s eligible medical expenses when such expenses exceed the amount then available in the employee’s account, if the employee agrees to repay the advance from future installments or upon the termination of employment. If such an advance causes the employee’s federal adjusted gross income to be greater than it would have been had the advance not been made, the amount by which the employee’s federal adjusted gross income was increased may be deducted by the employee in determining the employee’s Ohio adjusted gross income under Chapter 5747 of the Revised Code.