§ 6060.15. Definitions
Oklahoma Statutes AnnotatedTitle 36. Insurance
36 Okl.St.Ann. § 6060.15
§ 6060.15. Definitions
As used in this act:1
2. “Dependent” means the spouse or child of the eligible individual as defined in Section 152 of the Internal Revenue Code;2
4. “Health savings account” or “account” means a trust or custodian established in this state pursuant to a health savings account program exclusively to pay the qualified medical expenses of an eligible individual or their dependents, but only if the written governing instrument creating the account meets the following requirements:
(2) to the extent the contribution, when added to the previous contributions to the account for the calendar year, exceeds the maximum contribution amount pursuant to Section 223 of the Internal Revenue Code,3
7. “Qualified medical expense” means an expense paid by the taxpayer for medical care described in paragraph d of Section 213 of the Internal Revenue Code,4 but only to the extent such amounts are not compensated for by insurance or otherwise; and
a. in the case of self-only coverage, an annual deductible which is not less than One Thousand Dollars ($1,000.00) and the sum of the annual deductible and other annual out-of-pocket expenses required to be paid under the plan for covered benefits does not exceed Five Thousand Dollars ($5,000.00), or
A plan shall not fail to be treated as a high deductible plan by reason of failing to have a deductible for preventive care or, in the case of network plans, for having out-of-pocket expenses which exceed these limits on an annual deductible for services provided outside the network.
Credits
Laws 2005, c. 306, § 2, eff. Nov. 1, 2005; Laws 2007, c. 269, § 1, emerg. eff. June 4, 2007.
36 Okl. St. Ann. § 6060.15, OK ST T. 36 § 6060.15
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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