Terms Used In Utah Code > Title 31A > Chapter 32a - Medical Care Savings Account Act

• account: means a trust account established at a depository institution in this state pursuant to a medical care savings account program to pay the eligible medical expenses of:

  (a)	an employee or account holder; and

  (b)

  the dependents of the employee or account holder. See Utah Code 31A-32a-102 Account administrator: means any of the following: (a)  a depository institution as defined in Section 7-1-103; (b)  a trust company as defined in Section 7-1-103; (c)  an insurance company authorized to do business in this state under this title; (d)  a third party administrator licensed under Section 31A-25-203; and (e)  an employer if the employer has a self-insured health plan under ERISA. See Utah Code 31A-32a-102 Account holder: means the resident individual who establishes a medical care savings account or for whose benefit a medical care savings account is established. See Utah Code 31A-32a-102 accounting: means : (a)  the systematic recording, classification, or summarizing of a financial transaction or event; and (b)  the interpretation or presentation of the result of an action described in Subsection (1)(a). See Utah Code 17-19a-102 Accounting services: means the creation, modification, or deletion of transactions and records in a financial accounting system, including the preparation of a county's annual financial report. See Utah Code 17-19a-102 Administrator: means the same as that term is defined in Subsection (182). See Utah Code 31A-1-301 Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account. auditing: means an examination that is a formal analysis of a county account or county financial record: (a)  to verify accuracy, completeness, or compliance with an internal control; (b)  to give a fair presentation of a county's financial status; and (c)  that conforms to the uniform classification of accounts established by the state auditor. See Utah Code 17-19a-102 Certificate: means evidence of insurance given to: (a)  an insured under a group insurance policy; or (b)  a third party. See Utah Code 31A-1-301 Contract: A legal written agreement that becomes binding when signed. County auditor: includes a person given the title of county controller under Subsection 17-19a-202(6). See Utah Code 17-19a-102 County legislative body: means :Utah Code 68-3-12.5 Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Deductible: means the total deductible for an employee and all the dependents of that employee for a calendar year. See Utah Code 31A-32a-102 Department: means the Insurance Department. See Utah Code 31A-1-301 Employee: means the individual for whose benefit or for the benefit of whose dependents a medical care savings account is established. See Utah Code 31A-32a-102 ERISA: means the Employee Retirement Income Security Act of 1974, Public Law 93-406, 88 Stat. See Utah Code 31A-32a-102 Executive: when used to describe the powers, duties, or functions of a person or body elected as the county executive or a person appointed as the county manager or administrative officer, refers to: (a)  the power and duty to carry laws and ordinances into effect and secure their due observance; and (b)  those powers, duties, and functions that, under constitutional and statutory provisions and through long usage and accepted practice and custom at the federal and state level, have come to be regarded as belonging to the executive branch of government. See Utah Code 17-50-101 Fiduciary: A trustee, executor, or administrator. Filing: when used as a noun, means an item required to be filed with the department including: (a)  a policy; (b)  a rate; (c)  a form; (d)  a document; (e)  a plan; (f)  a manual; (g)  an application; (h)  a report; (i)  a certificate; (j)  an endorsement; (k)  an actuarial certification; (l)  a licensee annual statement; (m)  a licensee renewal application; (n)  an advertisement; (o)  a binder; or (p)  an outline of coverage. See Utah Code 31A-1-301 Health care: means any of the following intended for use in the diagnosis, treatment, mitigation, or prevention of a human ailment or impairment: (a)  a professional service; (b)  a personal service; (c)  a facility; (d)  equipment; (e)  a device; (f)  supplies; or (g)  medicine. See Utah Code 31A-1-301 Higher deductible: means a deductible of not less than $1,000. See Utah Code 31A-32a-102 Individual: means a natural person. See Utah Code 31A-1-301 Insurance: includes : (i)  a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind; (ii)  a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and (iii)  a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301 Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit. Legislative: when used to describe the powers, duties, or functions of a county commission or council, refers to: (a)  the power and duty to enact ordinances, levy taxes, and establish budgets; and (b)  those powers, duties, and functions that, under constitutional and statutory provisions and through long usage and accepted practice and custom at the federal and state level, have come to be regarded as belonging to the legislative branch of government. See Utah Code 17-50-101 Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants. Long-term care insurance: includes : (i)  any of the following that provide directly or supplement long-term care insurance: (A)  a group or individual annuity or rider; or (B)  a life insurance policy or rider; (ii)  a policy or rider that provides for payment of benefits on the basis of: (A)  cognitive impairment; or (B)  functional capacity; or (iii)  a qualified long-term care insurance contract. See Utah Code 31A-1-301 Person: includes : (a)  an individual; (b)  a partnership; (c)  a corporation; (d)  an incorporated or unincorporated association; (e)  a joint stock company; (f)  a trust; (g)  a limited liability company; (h)  a reciprocal; (i)  a syndicate; or (j)  another similar entity or combination of entities acting in concert. See Utah Code 31A-1-301 Policy: includes a service contract issued by: (i)  a motor club under Chapter 11, Motor Clubs; (ii)  a service contract provided under Chapter 6a, Service Contracts; and (iii)  a corporation licensed under: (A)  Chapter 7, Nonprofit Health Service Insurance Corporations; or (B)  Chapter 8, Health Maintenance Organizations and Limited Health Plans. See Utah Code 31A-1-301 program: means one of the following programs: (a)  a program established by an employer in which the employer: (i)  purchases a qualified higher deductible health plan for the benefit of an employee and the employee's dependents; and (ii)  contributes on behalf of an employee into a medical care savings account; or (b)  a program established by an account holder in which the account holder: (i)  purchases a qualified higher deductible health plan for the benefit of the account holder and the account holder's dependents; and (ii)  contributes an amount to the medical care savings account. See Utah Code 31A-32a-102 Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide. Qualified higher deductible health plan: means a health coverage policy, certificate, or contract that: (a)  provides for payments for covered benefits that exceed the higher deductible; and (b)  is purchased by: (i)  an employer for the benefit of an employee for whom the employer makes deposits into a medical care savings account; or (ii)  an account holder. See Utah Code 31A-32a-102 Rate: means : (i)  the cost of a given unit of insurance; or (ii)  for property or casualty insurance, that cost of insurance per exposure unit either expressed as: (A)  a single number; or (B)  a pure premium rate, adjusted before the application of individual risk variations based on loss or expense considerations to account for the treatment of: (I)  expenses; (II)  profit; and (III)  individual insurer variation in loss experience. See Utah Code 31A-1-301 Security: means a: (i)  note; (ii)  stock; (iii)  bond; (iv)  debenture; (v)  evidence of indebtedness; (vi)  certificate of interest or participation in a profit-sharing agreement; (vii)  collateral-trust certificate; (viii)  preorganization certificate or subscription; (ix)  transferable share; (x)  investment contract; (xi)  voting trust certificate; (xii)  certificate of deposit for a security; (xiii)  certificate of interest of participation in an oil, gas, or mining title or lease or in payments out of production under such a title or lease; (xiv)  commodity contract or commodity option; (xv)  certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase any of the items listed in Subsections (171)(a)(i) through (xiv); or (xvi)  another interest or instrument commonly known as a security. See Utah Code 31A-1-301 State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5 Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC Writing: includes :Utah Code 68-3-12.5