How to Buy Fitnix Equipment Using HSA/FSA Funds

How to Buy Fitnix Equipment Using HSA/FSA Funds

Prioritizing health is one of the most impactful choices you can make for long-term well-being. Using your Health Savings Account (HSA) or Flexible Spending Account (FSA) to invest in equipment that supports fitness and movement is a practical, tax-advantaged way to care for your health.

Truemed simplifies the process, allowing you to use pre-tax dollars to purchase qualified products without the complexities typically associated with medical reimbursements. Here is a step-by-step guide to purchasing Fitnix equipment using your HSA or FSA funds.

Understanding the Differences Between HSA and FSA

Before getting started, it is important to understand the difference between HSAs and FSAs.

A Health Savings Account (HSA) is an individually owned savings account that allows you to set aside pre-tax income for medical expenses. HSA funds roll over annually and can accumulate interest, offering a long-term financial benefit. HSAs are often paired with high-deductible health insurance plans.

A Flexible Spending Account (FSA) is typically offered through employers and allows employees to contribute pre-tax income for qualified healthcare expenses. However, FSAs usually have stricter limitations: most funds must be used within the plan year, with limited options for carryover.

Understanding these distinctions ensures that you use the appropriate account for your Fitnix equipment purchase.

How to Use Your HSA or FSA to Buy Fitnix Equipment with Truemed

Step 1: Checkout When you're ready to purchase, proceed to checkout and look for the Truemed logo. If a "Shop Pay" pop-up appears, simply exit out to continue.

Step 2: Complete the Health Assessment You'll be prompted to take a quick, private health survey. A licensed provider will review your responses to determine if your purchase qualifies as medically necessary.

Step 3: Make Your Purchase After completing the survey, pay using either your HSA/FSA card or a regular credit card.

• If you use a regular credit card, a Letter of Medical Necessity (LMN) will be provided along with a guide to help you submit for reimbursement.

Why Use HSA/FSA Funds for Health and Fitness Investments?

Using pre-tax dollars through an HSA or FSA account reduces your effective cost of purchasing health-supporting equipment. By using these accounts, individuals can typically save an average of 30% compared to using taxed income for the same purchases.

Additionally, planning health investments through HSA and FSA contributions enables better financial management. Setting aside pre-tax income for necessary equipment ensures you are prepared for health-related expenses while maximizing your financial resources.

Conclusion

Investing in Fitnix equipment through your HSA or FSA account is a financially responsible way to support your health and fitness journey. Truemed’s streamlined process ensures that verifying eligibility, obtaining a Letter of Medical Necessity, and purchasing qualified equipment are all accessible and straightforward.

By making strategic use of your health accounts, you can prioritize wellness and movement, improving your overall quality of life while optimizing your financial planning.

The content on the Truemed blog is intended for informational and educational purposes only, and should not be considered medical advice. It is not a substitute for professional medical care, diagnosis, or treatment. Truemed is committed to expanding access to medically necessary products and services through HSA and FSA plans, though individual needs and eligibility for benefits may vary.