be accepted— (i) unless it is in cash, or (ii) to the extent such contribution, when added to previous contributions to the trust for the calendar year, exceeds the sum of the dollar amounts in effect under paragraphs (2) and (3) of subsection (b) or are excludible from gross income under section 106(d). (B) The trustee is a bank (as defined in section 408(n)), an insurance company (as defined in section 816), or another person who demonstrates to the satisfaction of the Secretary that the manner in which such person will administer the trust will be consistent with the requirements of this section. (C) No part of the trust assets will be invested in life insurance contracts. (D) The assets of the trust will not be commingled with other property except in a common trust fund or common investment fund. (E) The interest of an individual in the balance in his account is nonforfeitable. (2) Qualified medical expenses (A) In general The term qualified medical expenses means, with respect to an account beneficiary, amounts paid by such beneficiary for medical care (as defined in section 213(d)) for such individual, the spouse of such individual, and any dependent (as defined in section 152, determined without regard to subsections (b)(1), (b)(2), and (d)(1)(B) thereof) of such individual, but only to the extent such amounts are not compensated for by insurance or otherwise. For purposes of this subparagraph, amounts paid for menstrual care products shall be treated as paid for medical care. (B) Health insurance may not be purchased from account (i) In general Subparagraph (A) shall not apply to any payment for insurance. (ii) Exceptions Claue (i) shall not apply to any expense for coverage under— (I) a health plan during any period of continuation coverage required under any Federal law, (II) a qualified long-term care insurance contract (as defined in section 7702B(b)), (III) a health plan during a period in which the individual is receiving unemployment compensation under any Federal or State law, or (IV) in the