SPRINGFIELD, MA (WGGB/WSHM) -- Hot tub purchases and bicycles for physical therapy are among the unusual Health Savings Account (HSA) reimbursements happening in western Massachusetts, but experts warn that one mistake could trigger an IRS audit.

Health Savings Accounts, which were established in 2003, are becoming an increasingly popular tool for managing future healthcare costs across the country. According to the Consumer Financial Protection Bureau, the number of HSA accounts in the U.S. tripled from 2013 to 2023, going from nearly 12 million to 36 million accounts. However, the rules and regulations for HSA reimbursements can be tricky, especially when it comes to the purchase of non-traditional medical expenses.

Understanding HSA requirements

Matt Waugh, owner of Waugh Agency Insu

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