Question 1

Is fitness equipment HSA/FSA eligible?

Accepted Answer

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.

Question 2

What conditions might qualify me to use HSA/FSA on fitness equipment?

Accepted Answer

Eligibility is contingent on your personal health history and needs and requires substantiation by 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.

Question 3

Do I need a Letter of Medical Necessity (LMN) to purchase fitness equipment with HSA/FSA funds?

Accepted Answer

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.

Question 4

Is Peloton HSA/FSA eligible?

Accepted Answer

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.

Question 5

How much can I save buying fitness equipment with HSA/FSA?

Accepted Answer

Qualified customers save an average of about 30% when paying with pre-tax HSA/FSA dollars instead of post-tax money. 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.

Fitness Equipment

Qualified customers can shop HSA/FSA eligible fitness equipment, like treadmills, bikes, and dumbbells. Shoppers save an average of 30% when paying with pre-tax dollars.

Featured Fitness Equipment

Best Sellers

All Fitness Equipment

Frequently Asked Questions

Your health, your savings