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HEALTH SAVINGS BANK ACCOUNT
HOW PAYING FOR CARE WORKS WITH AN HSA
1. First, you put money in your HSA bank account. McLarty Automotive Group will also
make a semi-monthly contribution of $12.50 per pay period into your HSA bank account.
McLarty Automotive Group’s contribution will count toward the IRS annual maximum
contributions. Contributions cannot be made until the bank account is established.
2. Money in your HSA bank account can be used to pay for qualified medical expenses from
you or any of your dependents, even if they are not on the McLarty benefit plans.
3. Money invested from your account has the ability to grow tax-free; the money rolls from
one year to the next.
4. You can use your HSA to pay your deductible, coinsurance, or discounted costs of
prescription drugs*
* Qualified health expenses which may be reimbursed from an HSA on a tax-free basis
are listed in IRS publication 502 and include out-of-pocket medical, dental, and vision
expenses for you and your dependents even if you dependents are not on the McLarty
Automotive Group benefit plans.
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