permitted insurance
Defined in 2 places of the United States Code.
The term “permitted insurance” means—
(A) insurance if substantially all of the coverage provided under such insurance relates to—
(i) liabilities incurred under workers’ compensation laws,
(ii) tort liabilities,
(iii) liabilities relating to ownership or use of property, or
(iv) such other similar liabilities as the Secretary may specify by regulations,
(B) insurance for a specified disease or illness, and
(C) insurance paying a fixed amount per day (or other period) of hospitalization.
Same definition in 2 sections
- 1997–present26 U.S.C. § 220Internal Revenue Code · Archer MSAs · for purposes of this section
- 2003–present26 U.S.C. § 223Internal Revenue Code · Health savings accounts · for purposes of this section
The term “permitted insurance” means—
(A) Medicare supplemental insurance,
(B) insurance if substantially all of the coverage provided under such insurance relates to—
(i) liabilities incurred under workers’ compensation laws,
(ii) tort liabilities,
(iii) liabilities relating to ownership or use of property, or
(iv) such other similar liabilities as the Secretary may specify by regulations,
(C) insurance for a specified disease or illness, and
(D) insurance paying a fixed amount per day (or other period) of hospitalization.
Source
- 1996–199726 U.S.C. § 220Internal Revenue Code · Archer MSAs · for purposes of this section