State Codes and Statutes
Statutes > Utah > Title-49 > Chapter-20 > 49-20-41049-20-410. High deductible health plan -- Health savings account -- Contributions.
(1) (a) In addition to other employee benefit plans offered under this part, the office shalloffer a high deductible health plan with a federally qualified health savings account as anoptional health plan.
(b) The provisions and limitations of the plan shall be determined by the office inaccordance with federal requirements and limitations.
(2) (a) The office shall administer the high deductible health plan in coordination withthe health savings account so that the impact on the covered employer's overall health plan isactuarially neutral.
(b) The office shall offer the federally qualified health savings account for medicalexpenses for each covered individual in the high deductible health plan.
(3) (a) Contributions to the health savings account may be made by the employer.
(b) The amount of the contributions under Subsection (3)(a) shall be determined annuallyby the office, after consultation with the covered employer, or on behalf of the state as anemployer, the Department of Human Resource Management and the Governor's Office ofPlanning and Budget, based on:
(i) federal requirements and limitations; and
(ii) the actuarial value of the risk-adjusted high deductible to the office.
(c) An employee may also make contributions to the health savings account.
Amended by Chapter 130, 2007 General Session
