Sec. 9. (a) Except as otherwise provided by
statute,
contract, or a collective bargaining agreement, an employer may establish a medical care savings
account program for the employer’s employees.
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Terms Used In Indiana Code 6-8-11-9
- account: means an account established in Indiana under a medical care savings account program to pay the eligible medical expenses of an employee and dependents of the employee. See Indiana Code 6-8-11-6
- Contract: A legal written agreement that becomes binding when signed.
- employee: means the individual:
Indiana Code 6-8-11-4
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
- Statute: A law passed by a legislature.
(c) Except as provided in sections 17 and 23 of this chapter, the:
(1) principal contributed by an employer to a medical care savings account before January 1, 2016;
(2) interest earned on money on deposit in a medical care savings account; and
(3) money:
(A) paid out of a medical care savings account for eligible medical expenses; or
(B) used to reimburse an employee for eligible medical expenses;
are exempt from taxation as income of the employee under IC 6-3-2-18.
As added by P.L.92-1995, SEC.2 and P.L.93-1995, SEC.2. Amended by P.L.250-2015, SEC.45.
