Establishment Of Account

15-61-201 . Establishment of account.

# (1)

An employer, except as otherwise provided by statute, contract, or a collective bargaining agreement, may establish a medical care savings account for an employee of the employer or for a dependent of the employee.

# (2)

An individual who is a resident of this state may establish a medical care savings account for that individual or for a dependent of the individual.

# (3)

Before making any contributions to an employee's account, an employer shall inform an employee in writing of the state and federal tax status of contributions made pursuant to this chapter.

# (4)

Upon agreement between an employer and an employee, an employee may have the employer contribute to the employee's medical care savings account, to a health insurance policy or program for the employee, or to both the account and the policy or program.

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