Section 3924.68 | Procedure Upon Termination of Employment.
Effective: June 30, 1997 Latest Legislation: House Bill 374 – 122nd General Assembly (A) If an account holder, whose medical savings account has been opened by the account holder’s employer, later ceases to be employed by that employer, the account holder may, within sixty days of the account holder’s final date of employment, request in […]
Section 3924.69 | Death of Account Holder.
Effective: October 1, 1996 Latest Legislation: House Bill 179 – 121st General Assembly (A) An account holder may designate a beneficiary or beneficiaries of the account holder’s medical savings account. (B) Any funds remaining in a medical savings account upon the death of an account holder shall be distributed to the decedent’s estate and shall […]
Section 3924.70 | Advances to Cover Employee’s Eligible Medical Expenses.
Effective: October 1, 1996 Latest Legislation: House Bill 179 – 121st General Assembly 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 […]
Section 3924.71 | Funds Disbursed Pursuant to Bankruptcy Protection.
Effective: October 1, 1996 Latest Legislation: House Bill 179 – 121st General Assembly Funds disbursed from a medical savings account pursuant to a filing for protection by an account holder under Title 11 of the United States Code shall not be included in the account holder’s Ohio adjusted gross income for the year of disbursement […]
Section 3924.72 | Brochure Explaining Operation of Medical Savings Accounts.
Effective: October 1, 1996 Latest Legislation: House Bill 179 – 121st General Assembly The superintendent of insurance shall prepare and periodically revise a brochure that clearly and concisely explains the operation of medical savings accounts authorized under sections 3924.61 to 3924.74 of the Revised Code, and that describes how an employer’s or individual’s use of […]
Section 3924.73 | Rights, Privileges, or Protections of Employees or Small Employers.
Effective: June 30, 1997 Latest Legislation: House Bill 374 – 122nd General Assembly (A) As used in this section: (1) “Health care insurer” means any person legally engaged in the business of providing sickness and accident insurance contracts in this state, a health insuring corporation organized under Chapter 1751. of the Revised Code, or any […]
Section 3924.74 | Coordination of Benefits.
Effective: October 1, 1996 Latest Legislation: House Bill 179 – 121st General Assembly The superintendent of insurance may include coordination of benefits regarding medical savings accounts in the rules on coordination of benefits adopted under section 3902.14 of the Revised Code.
Section 3924.53 | Coverage for Person in Custody or Confined in Jail.
Effective: September 6, 2002 Latest Legislation: House Bill 170 – 124th General Assembly (A) As used in this section: (1) “Beneficiary” and “benefits contract” have the same meanings as in section 3901.38 of the Revised Code. (2) “Confinement” means any period of time during which a person is in the custody or under the supervision […]
Section 3924.61 | Medical Savings Account Definitions.
Effective: June 30, 1997 Latest Legislation: House Bill 374 – 122nd General Assembly As used in sections 3924.61 to 3924.74 of the Revised Code: (A) “Account holder” means the natural person who opens a medical savings account or on whose behalf a medical savings account is opened. (B) “Eligible medical expense” means any expense for […]
Section 3924.62 | Opening of Medical Savings Account.
Effective: June 30, 1997 Latest Legislation: House Bill 374 – 122nd General Assembly (A) A medical savings account may be opened by or on behalf of any natural person, to pay the person’s eligible medical expenses and the eligible medical expenses of that person’s spouse or dependent. A medical savings account may be opened by […]