Distribution upon death of employee with no covered dependents
Sec. 20. (a) This section applies only to an employee who has no
dependents who are covered under the medical care savings account
established for the benefit of the employee.
(b) Upon the death of the employee for whose benefit a medical
care savings account was established, the account administrator shall
distribute the principal and accumulated interest of the account to the
estate of the employee by mailing a check to the personal
representative of the employee (as defined in IC 29-1-1-3).
(c) The distribution of the balance in a medical care savings
account under this section is not income to the individual or to the
estate of the individual that is subject to taxation under IC 6-3-1
through IC 6-3-7.
As added by P.L.92-1995, SEC.2 and P.L.93-1995, SEC.2.
Last modified: May 28, 2006