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with medical savings accounts are eligible for a federal tax |
| deduction for contributions to the accounts and are not taxed |
| for withdrawals used to pay qualified medical expenses. The |
| bill makes contributions to, interest earned on and qualified |
| withdrawals from individual medical savings accounts exempt from |
| Maine state income tax. The bill also requires the Department |
| of Professional and Financial Regulation, Bureau of Insurance to |
| provide technical assistance to those companies that offer |
| medical savings accounts in conjunction with individual health |
| insurance policies within the bureau's existing resources. The |
| legislation is repealed upon the repeal of federal legislation |
| authorizing medical savings accounts. |
