Medical savings account means an account exempt from federal income taxation pursuant to Section 220 of the United States Internal Revenue Code (26 U.S.C. § 220).

Medical savings account means an account that is exempt from federal income taxation pursuant to Section 220 of the U.S. Internal Revenue Code (26 U.S.C. §220) as supported by documentation provided by the bank or other financial institution. Any withdrawal from a medical savings account other than for the designated purpose becomes a countable resource.

Medical savings account means a trust that is created exclusively for the purpose of paying

Examples of Medical savings account in a sentence

See Medical savings account (MSA) on page 5.Code S—Employee salary reduction contributions under a section 408(p) SIMPLE.
Coordinated care plans which provide health care services, including but not limited to health maintenance organization plans (with or without a point-of-service option), plans offered by provider-sponsored organizations, and preferred provider organization plans; 004.11B Medical savings account plans coupled with a contribution into a Medicare Advantage medical savings account; and 004.11C Medicare Advantage private fee-for-service plans.
IRA deduction (see page 26) Student loan interest deduction (see page 26) Medical savings account deduction.
Specifically, effective January 1, 1999, section1851(a)(2) of the Act provides for three types of Medicare+Choice plans:• Coordinated care plans, includingHMO plans, provider sponsoredorganization (PSO) plans, and preferred provider organization (PPO) plans.• Medical savings account (MSA)plans (that is, combinations of a highdeductible, catastrophic insurance plan with a contribution to aMedicare+Choice MSA).
The deductions are:  IRA deductions,  Medical savings account deductions,  Moving expenses,  One-half of self-employment taxes,  Self-employed health insurance deductions,  KEOGH and self-employed SEP and SIMPLE plans,  Penalties on early withdrawal of savings, and  Paid alimony.

More Definitions of Medical savings account

Medical savings account means an account that is exempt from federal income taxation pursuant to Section 223 of the U.S. Internal Revenue Code (26 U.S.C. §223) (January 5, 2023) as supported by documentation provided by the bank or other financial institution. Any withdrawal from a medical savings account other than for the designated purpose becomes a countable resource.

Medical savings account means an account which,

Medical savings account or "account" means an account established in this state pursuant to a medical savings account program to pay the eligible medical expenses of an account holder and the dependents of the account holder;

Medical savings account means a trust that is created exclusively for the purpose of paying qualified medical expenses of the account holder and that qualifies for tax deduction under section 220 of the Internal Revenue Code. “Medical savings account” includes an associated high deductible health benefit plan.

Medical savings account means a benefit account established in the name of the Member concerned into which an amount that may not exceed 25% (twenty- five percent) of the total gross contribution made in respect of the Member during the financial year concerned is payable as indicated by the specific benefit option chosen by the Member. Funds deposited in a Member’s personal medical savings account, where applicable, shall be available for the exclusive benefit of the Member and his or her Dependants and will not be used to offset the Member’s contributions, provided that the Scheme may use funds in a Member’s personal medical savings account to offset debt owed by the Member to the Scheme following that Member’s termination of membership of the Scheme. Any interest earned shall be accrued to the medical savings account balance. No cross subsidisation applies to the medical savings account;

Medical savings account or “MSA” shall mean Medicare Advantage Medical Savings Accounts.