Bank of Michigan

Health Savings Accounts

Constant changes in health insurance plans and their costs can be overwhelming. A Health Savings Account (HSA) may be just what you need to manage your health-related expenses. An HSA is a tax-exempt savings account established exclusively for the purpose of paying or reimbursing qualified medical expenses for you, your spouse and your dependents.

Funds in the HSA can help pay for your current plan's deductible or qualified medical expenses not covered by your insurance policy, including but not limited to:

  • Monthly insurance premiums
  • Routine healthcare expenses
  • Prescription drugs
  • Dental/orthodontic care
  • Emergency room visits
  • Specialists

Qualified medical expenses are paid via check or debit card which come with the account.

For more information about Health Savings Accounts, please visit the U.S Treasury HSA website.

Bank of Michigan President Michael G. Sarafa

Letter from the President

Welcome to the new Bank of Michigan website. We hope you find it fresh and easy to use. It is our goal to create positive customer experiences for every transaction from internet banking to a personal visit with us at the bank. Our experienced and dedicated team of bankers is ready to offer creative solutions to meet your banking needs.

At Bank of Michigan, we take great pride in our core values: integrity, loyalty, community, responsiveness and maximizing success. We take these principles very seriously. They drive our mission, purpose and values. Our Board of Directors and staff personally stand behind these commitments.

Thank you for visiting us and do not hesitate to contact me if I can assist you in any way.

Michael G. Sarafa, President