High Deductible Health Plans & Health Savings Accounts represent the hot new ideas in health insurance.  If you or your company have a High Deductible Health Plan (HDHP), OMNI BANK can set up your Health Savings Account (HSA).

A Health Savings Account is an account into which, individuals, companies, and employees can put money to save for current and future medical expenses.  Any adult can contribute to an HSA if they have coverage under an HSA qualified High Deductible Health Plan; are not enrolled in Medicare; have no other general medical coverage; and cannot be claimed as a dependent on someone else's tax return. 

Consider the advantages and call OMNI BANK today to set up your Health Savings Account.

• Affordability
  Switching to a higher deductible health insurance plan should lower premiums.

• Flexibility
  HSA funds can pay for current medical expenses or can be saved for future needs such as health insurance and medical expenses during periods of unemployment; medical expenses after retirement (before Medicare); and long-term care expenses and insurance.

• Savings
  Save money in an HSA for future medical expenses and grow the account through interest earnings. 

• Tax Savings
  An HSA provides TRIPLE TAX SAVINGS with tax deductions when contributions are made to the account, tax-free earnings, and tax-free withdrawals for qualified medical expenses. 

• Control
  The account owner makes all decisions about how much to save, how much to spend, or whether to invest any of the money in the account. 

• Portability
  The account owner makes all decisions about how much to save, how much to spend, or whether to invest any of the money in the account. 

• Security
  A high deductible insurance plan and HSA help protect both the company and employees against high or unexpected medical bills. 

• Ownership
  Savings remain in the account from year to year.  There is no "use it or lose it" rule.