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42.15.605    DEFINITIONS

The following definitions apply to this subchapter:

(1) "Account administrator" means, in addition to the definition found in 15-61-102, MCA, any person, partnership, limited liability company, limited liability partnership, or corporation that acts as a third party fiduciary to administer a medical savings account and is either a bank, savings and loan, credit union, or trust company, a health care insurer, a certified public accountant, or an employer who is self-insured under ERISA.

(2) "Child" means a son, stepson, daughter, stepdaughter, or legally adopted son or daughter of the taxpayer.

(3) "Descendant" means a lineal descendant and a collateral descendant related by blood.  Sections 72-11-102, 72-11-103, and 72-11-104, MCA, describe how kinship and degrees of kinship are determined.

(4) "Immediate family member" means any individual who is a lineal descendent of the account holder and also includes their spouse. Stepchildren are considered lineal descendents if that relationship was created before the child's eighteenth birthday.

(5) "Last business day" means the last day of the account administrator's business year.

(6) "Long-term care" means necessary or medically necessary diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal care provided for a period of no fewer than 12 consecutive months in a setting other than an acute care unit of a hospital.

(7) "Recovery" means the return or recoupment of amounts that were previously deducted in Montana taxable income or credited against Montana tax in any prior taxable year.

(8) "Self-administered" refers to accounts that are administered by the account holder for their own benefit.

History: Sec. 15-30-305, MCA; IMP, Sec. 15-30-112, 15-61-102, and 15-61-201, MCA; NEW, 2004 MAR p. 1974, Eff. 8/20/04.

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