HSA/FSA Eligible Fitness Equipment

Yes, fitness equipment may be HSA/FSA eligible for qualified customers when accompanied by appropriate documentation, like a Letter of Medical Necessity (LMN). This means your stationary bike, dumbbells, treadmill, or other home fitness equipment may be eligible for HSA/FSA spending, so you can save an average of 30% on the purchase.

Eligibility is contingent on your personal health history and needs and requires substantiation by a licensed medical professional. Conditions that may support medical necessity for fitness equipment commonly include cardiovascular concerns, high blood pressure, type 2 diabetes or prediabetes, obesity, metabolic syndrome, chronic back or joint pain, osteoporosis or low bone density, and certain mental health conditions where structured exercise is part of management. General goals like wanting to get stronger without an underlying condition do not, on their own, meet the IRS standard for HSA/FSA eligibility.

Typically, yes, fitness equipment requires additional documentation to support using pre-tax HSA/FSA funds on the purchase. This is because fitness equipment is not considered automatically eligible according to IRS Publication 502, which states that qualified medical expenses are products or services that are used to diagnose, cure, mitigate, treat, or prevent disease. However, for many people, fitness equipment may be eligible when supported by appropriate documentation, like an LMN.

Paying with pre-tax HSA/FSA dollars is an effective 30% discount on the exercise equipment you need to build the perfect home gym. Since the accounts are funded with pre-tax income, you’re saving on the taxes you would pay if you purchased fitness equipment out of pocket.

Yes, Peloton equipment may be eligible for HSA/FSA spending for qualified customers when a licensed clinician determines it's medically necessary for your specific health situation. When you shop Peloton through Truemed, you'll complete a health intake survey at checkout, which is reviewed by an independent licensed practitioner. If qualified, you'll receive a Letter of Medical Necessity that supports HSA/FSA payment or reimbursement for your Peloton purchase.

Qualified customers save an average of 30% when paying with pre-tax HSA/FSA dollars. Actual savings vary based on your individual tax rate. For example, on a $2,000 treadmill, a 30% effective savings rate works out to roughly $600 back in your pocket compared to paying with a regular debit or credit card. HSA/FSA tax savings vary; learn more at truemed.com/disclosures.