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ODS Health Savings Account

Health Savings Accounts are a new option for health insurance and they have two parts. The first part is an ODS HSA qualified high deductible health plan insurance policy that covers large healthcare bills. The second part of the Health Savings Account is a bank, investment or retirement account from which you can withdraw money tax-free for medical care. ODS has partnered with U.S. Bank, Town Center Bank and Wells Fargo to provide this service. Health Savings Accounts allow consumers to pay for qualified medical expenses with pre-tax dollars (income-tax free!) and save for retirement on a tax-deferred basis.

HSAs offer triple tax savings

100% of your HSA contributions can be deducted from your taxable income
Money in your HSA accrues interest on a tax-free basis
No penalties or taxes when you use your HSA to pay for qualified medical expenses

An ODS HSA High Deductible Health Plan has lower premiums than conventional plans

In order to have a Health Savings Account, you must get an HSA-qualified health insurance plan. This type of insurance plan is often referred to as a High Deductible Health Plan, and typically has much lower premiums than conventional plans.

A health insurance plan must meet the following criteria to be considered HSA-eligible:

The plan must have an annual deductible of at least $1,050 for individuals and at least $2,100 for families.
The sum of the annual deductible and other annual out-of-pocket expenses paid under the plan (other than premiums) cannot exceed $5,250 for individuals and $10,500 for families.

Using funds in your Health Savings Account is easy

You will be provided checks and a debit card. When you pay for qualified medical expenses, use the debit card or check to make the payment.
You do not need to get approval from the HSA administrator when you use HSA funds.

HSA Partnerships - Materials

Why get my HSA qualified High Deductible Health Plan through ODS?

We offer a large selection of insurance plans, which makes it easy for you find an HSA-eligible health insurance plan that fits your particular needs.
We make signing up easy by enabling you to fill out the health insurance application and the HSA enrollment form as part of one simple process.
With our preferred banking arrangement we offer some of the lowest available fees for opening a Health Savings Account.
We clearly identify the HSA-eligible health insurance plans so that you won't select an insurance plan which is not eligible.
You receive full coverage for in-network preventive care.
All ODS members have broad access to great physicians and hospitals
ODS members can access doctors and registered nurses any time of the day or night with our free online eDocAmerica secure messaging service and 24-Hour Registered Nurse Advice Line.

For more information about HSA plans and accounts, contact your ODS agent today or contact ODS Marketing at 1-800-578-1402. For more information on health savings accounts, visit the U.S. Bank Health Savings Solution^SM Web site at www.healthsavings.usbank.com.