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2018 Minnesota Session Laws

This document represents the act as presented to the governor. The version passed by the legislature is the final engrossment. It does not represent the official 2018 session law, which will be available here summer 2018.

Key: (1) language to be deleted (2) new language

CHAPTER 111--H.F.No. 2391

An act

relating to financial institutions; regulating health savings and medical savings accounts; providing asset protection;

amending Minnesota Statutes 2016, section 550.37, by adding a subdivision.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2016, section 550.37, is amended by adding a subdivision to read:

Subd. 26.

Health savings accounts; medical savings accounts.

(a) All money held in a health savings account, as defined in the Internal Revenue Code of 1986, section 223(d), as amended, up to a present value of $25,000.

(b) All money held in a medical savings account, as defined in the Internal Revenue Code of 1986, section 220(d)(1), as amended, up to a present value of $25,000.

(c) The exemptions in paragraphs (a) and (b) do not apply pursuant to the division of marital assets under section 518.58, a surviving spouse benefit under section 518.581, and a support order under section 518A.53.

Presented to the governor May 1, 2018

Signed by the governor May 3, 2018, 11:20 a.m.

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