Health Savings Account definition

Health Savings Account means an account as permitted under section 223 of the internal revenue code of 1986, 26 USC 223.

Health Savings Account or "HSA" means a trust created or organized in the United States as a health savings account exclusively for the purpose of paying the HSA Qualified Medical Expenses of the account beneficiary, the account beneficiary's spouse, and the account beneficiary's dependents (as defined in Code Section 152, determined without regard to subsections (b)(l), (b)(2), and (d)(l)(B) thereof) that meets the requirements of Code Section 223(d) and that is recognized by the Plan Administrator, in its sole discretion, as eligible to receive contributions under the Plan.

Health Savings Account or “HSA” means a health savings account within the meaning of Code Section 223.

Examples of Health Savings Account in a sentence

• The City, at its option, may also offer a Health Savings Account (“HSA”) plan, with terms to be determined by the City.

• A high deductible Health Savings Account option will also be available, and the employer portion will be the amount designated by the health plan.

• Check here to apply for an Affinity Visa Debit Access Card; however, you must have an Affinity Checking Account or Health Savings Account.

• If the group health plan is through an ASO Agreement, Employer represents and warrants that, to the best of its knowledge, the group health plan sponsored and maintained by Employer pursuant to which medical coverage is provided to its employees electing to open a Health Savings Account with Custodian (“Account Beneficiaries”) will be, at all times relevant to this Agreement, an HDHP, in accordance with Section 223 of the Internal Revenue Code of 1986, as amended (the “Code”).

• This plan shall be known as the “Base Plan.” Insurance benefits, deductibles, and Township contributions to a Health Savings Account will be the same as it is for all other Township Employees.

More Definitions of Health Savings Account

Health Savings Account means a health savings account, as defined in Code Section 223(d).

Health Savings Account means a health savings account described in 26 USC 223.

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:

Health Savings Account or “HSA” means the tax-exempt trust or custodial account established in accordance with Section 223 of the Code to permit eligible participants to receive tax-favored contributions exclusively for the purpose of paying or reimbursing qualified medical expenses.

Health Savings Account or “HSA” shall mean a “health savings account” as defined in Section 223 of the Code.

Health Savings Account or “HSA” means a tax-exempt trust or custodial account under Section 223 of the Code that is established with a qualified HSA trustee or custodian.

Health Savings Account or “HSA” means an Internal Revenue Code Section 223 Account under which a Participant is covered, which is used to pay medical expenses eligible under the HSA. Such Accounts are established and maintained outside of the Plan with an HSA trustee/custodian.