Bruning Bank Offers Health Savings Accounts

Piggy Bank
November 25 2024

Health Savings Accounts (HSA’s) are a good way for self-employed individuals to save for medical expenses with possible tax advantages*.  Bruning Bank offers HSAs to anyone who qualifies from being covered by a high deductible health plan. Contributions do not have to be used in the year they are made, making it a great way to build savings that can be used for medical expenses any time in the future.

I recently had a client share a story about an issue with their current HSA with a large online provider. The client gave me their permission to share their experience. The client made a large contribution to the HSA account for some major dental work they needed to pay for. They make regular automatic contributions to their HSA but needed additional funds for the expense. When they went to try to use the funds for payment, they were informed that the funds were not available, and that a hold had been placed on the funds for three weeks. The provider of the account informed them that this was a new policy on contributions, as they had experienced a large increase in fraudulent deposits. The client was very frustrated because they made the contribution from the same account, they make regular contributions from, and they were given no option to verify the deposit and remove the hold any sooner.

Fraud is at an all-time high, and it’s good that the online provider implemented security protocol to increase consumer protection. However, having a relationship with a local bank that knows their clients on an individual basis is equally important. At Bruning Bank, we take pride in knowing our customers. If you would like more information on Health Savings Accounts, or any of the other products and services we offer, please contact your local Bruning Bank location.

*Consult with your tax professional for advice regarding specific financial decisions.

 

-Dave Richardson, President- Grand Island -

“We may never understand His wisdom, but we simply have to trust His will.”

Sonny Manley
President
Hebron

“Be kind because everybody is dealing with something you know nothing about.”

Jim Scott
President
Broken Bow

“Part of attaining success is surrounding yourself with people that share the same drive, determination and direction that you want to achieve.  I feel the people we hire at Bruning Bank represent those assets and they strive to help our customers build, grow and thrive in business as well as personal endeavors.” 

Todd Clabaugh
President
Kearney

"You’ve heard this before, '50% of success in your life comes from just showing up, more precisely showing up on time and being there when you are supposed to be.' That does not apply only to financial success it applies to everything. Your persistence in being there and being present and engaged in your family, your church and your work/career, you don’t have to talk a good game to be successful, you need to do. If you show-up, you're half way there.  And when you show-up, help will be available to get you the rest of the way.  Thanks to all of you that show-up!" 

Jerry Catlett
President & COO
Bruning

“At Bruning Bank, we are about building relationships. If you walk through our doors, we want you to feel like family. Whether it is your first time in, or you are a long-established customer, we want your experience to be positive, insightful, and lasting. The people we employ are vital in this role and do an amazing job carrying out the values and mission established by the bank. I truly feel this is what sets Bruning Bank apart from other institutions.“

Luke Thorell
President
Holdrege