HSA users can pay for prescriptions, copays and more while building long

Bhatt said money deposited into an HSA belongs to the account holder and can be used tax-free for qualified expenses.

While many people are aware HSAs can be used for expenses such as dental care, eyeglasses and prescription medications, Bhatt said the range of eligible purchases is broader than some may realize.

“We’re talking about just anything you buy your local drugstore, whether it’s pain relievers, it even extends to birth control and other feminine care products and other types of over-the-counter health care items that you might need for just like ongoing or just general one-off conditions,” Bhatt said.

Other potential uses mentioned in the report include physical therapy, weight-loss management, smoking-cessation assistance, and transportation related to health care.

Consumers also may be able to invest funds that remain in their accounts.

“And if you *don’t use the funds for qualified expenses … you can also *invest it,” reporter Lindsay Tuchman said.

“You could invest it in mutuals, stocks, CDs, or just a lot of the other conventional investment vehicles,” Bhatt said.