How to Start an HSA with Old National

Are you ready to take control of your healthcare expenses and save on taxes? Starting a Health Savings Account (HSA) with Old National is a great way to manage your healthcare costs effectively. Here’s how you can get started:

1. Understand the Basics of an HSA:

• An HSA is a tax-advantaged savings account that allows you to set aside money for eligible medical expenses.
• Contributions to the HSA are tax-deductible, and withdrawals for qualified medical expenses are tax-free.

2. Open an HSA Account with Old National:

• Visit the Old National website or a branch near you to open an HSA account.
• Provide the necessary documentation, such as your ID and proof of eligibility for an HSA.

3. Fund Your HSA Account:

• Start contributing to your HSA account through payroll deductions or direct deposits.
• Maximize your HSA contributions to benefit from tax savings.

4. Utilize Your HSA Funds:

• Use your HSA funds to pay for qualified medical expenses, such as doctor visits, prescriptions, and eligible treatments.
• Keep track of your expenses and receipts for tax purposes.

By following these steps, you can start your HSA journey with Old National and enjoy the financial benefits it offers. Take charge of your healthcare expenses and plan for a healthier future with an HSA!

Are you looking to gain control over your healthcare expenses while enjoying tax advantages? Setting up a Health Savings Account (HSA) with Old National is a smart choice for managing your medical costs efficiently. Here's a detailed guide on how to get started:

1. Understand the Benefits of an HSA:

• An HSA is a powerful savings tool that offers tax benefits for your medical expenses.
• Your contributions are tax-deductible, which can significantly lower your taxable income.
• Funds withdrawn for qualified medical expenses are exempt from taxes, promoting savings in the long run.

2. Open Your HSA Account:

• Head to the Old National website or visit a nearby branch to initiate your HSA account opening process.
• Bring along necessary documents like identification and proof that you are eligible for an HSA.

3. Fund Your Account Wisely:

• Contribute to your HSA through convenient payroll deductions or by setting up direct deposits from your bank.
• Take full advantage of contribution limits to maximize your potential tax savings.
• Remember, unspent funds roll over from year to year, making it a great long-term savings option.

4. Make the Most Out of Your HSA Funds:

• Utilize your HSA funds for various eligible medical expenses, including routine check-ups, urgent care visits, and prescription medications.
• Maintain organized records of your spending and keep receipts for tax-time efficiency.

By following these steps, you can easily embark on your HSA journey with Old National, unlocking impressive financial benefits while planning for a healthier future.