People Are Using It to Pay for Cold-Plunge Tubs—and to Stockpile Money for Retirement. It Started Out as Something Else Entirely.

By Andrew Zaleski | Originally posted on Slate

What can’t a health savings account do? It depends on who you ask.

Morgan Goodstadt made a radical change about six months ago. The registered dietitian runs her own virtual private practice, Good Nutrition, in Greenwich, Connecticut, where she offers one-on-one nutrition counseling. Her patients are a mix: Some have diabetes, some deal with autoimmune conditions or digestive issues, and others are just looking to be more health-conscious in their food choices. It’s all something any nutrition coach might encounter—except, at Good Nutrition, patients can now pay using their HSA or FSA accounts.

For the uninitiated: Health savings accounts and flexible spending accounts are held in addition to regular health insurance and allow people to set money aside to pay for qualified medical expenses. That typically means anything that falls under the rubric of traditional medical, dental, and vision services, as well as the costs of prescription drugs. According to research published in JAMA Health Forum last year, almost a quarter of U.S. residents ages 19 to 64 who have employer-sponsored health insurance also have an HSA or FSA.

More recently, however, Americans with HSAs and FSAs are finding ways to use these accounts more creatively. Or, in other words, in ways that weren’t originally intended. Some now use the money to pay for preventive health services and goods such as meal plans, fitness trackers, gym memberships, and nutrition help. Some are even pushing the bounds into wellness products: One company that facilitates HSA and FSA use claims you can use these accounts to buy an infrared sauna blanket, a Sleep Number bed, or a cold-plunge tub.

“I think it’s great,” says Goodstadt of the option to use these accounts to pay for nutrition counseling. “In the corporate world, I had an HSA card, but I didn’t know how to use it. It’s just giving people more options.”