Explore the Benefits of Old Southern Bank's HSAPlus Account!
- A flexible and easy way to pay medical expenses
- Works in conjunction with a high-deductible health plan
- Offers the ability to pay for current or future medical expenses tax-free
Ownership and Control 
Your HSAPlus account is yours to take with you, even if you change employers, and unused funds carry over year to year. You decide who to pay and when to pay them.
Tax Savings
With an Old Southern Bank HSAPlus account, you save three ways on taxes. First, contributions from your paycheck are made on a pre-tax basis (subject to certain limits) reducing the amount of federal income tax you pay for the year. Second, withdrawals made for qualified medical expenses are tax-exempt. Third, interest income in your HSAPlus is tax-deferred.
How It Works
Similar to a retirement savings plan, you contribute a portion of your paycheck to your HSAPlus account using pre-tax dollars. Then, you can make tax-exempt withdrawals to pay for qualified healthcare expenses such as:
- Insurance deductibles
- Office visit co-payments
- Eye care, including glasses and contacts
- Dental care
- Eligible prescriptions
Convenience
HSAPlus is an interest-bearing checking account. It gives you the convenience of paying for medical expenses with your choice of the included MasterCard debit card, by writing a check or through Old Southern Bank's online banking and online bill apying. You also have the conveneince of 24 hour telephone access. You're always in the know with your HSAPlus account!
Eligibility
You're eligible for HSAPlus if you're enrolled in a high-deductible health plan (HDHP) and not covered by other health insurance that is not and HDHP. In addition, you cannot be enrolled in Medicare or be eligible to be claimed as a dependent on someone else's tax return.
The Advantage of HSAPlus at Old Southern Bank
There are no fees to set up your account or process transactions, and no minimum balance requirement or monthly maintenance fees. For your convenience, your account can be opened with a no opening deposit required. Your account will automatically fund with the first contribution from your payroll!
HSAPlus from Old Southern Bank
