Let your clients pay for your coaching services with their tax-free HSA/
FSA dollars
Attract and engage new clients, convert hesitant prospects, and retain loyal customers with savings they’ll value.
Why do your clients
need this?
Truemed lets your clients use their Health Savings Account (HSA) or Flexible Spending Account (FSA) to reimburse personal training costs. By paying with pre-tax dollars, they can save an average of 30% over 12 months—without you needing to offer discounts.
How it works
Send your package
Your clients click on the HSA/FSA banner.
Health Assessment
Your client answers a few questions about their health & medical history.
Client receives Letter of Medical Necessity
A licensed provider will review the health assessment & if eligible they’ll receive their LMN by email.
Client submits for reimbursement
Client follows the instructions included with their LMN to submit their fees for reimbursement.
Frequently Asked Questions
Overview
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What is an HSA/FSA account?
Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) are tax-free accounts that can be used to pay for qualified health expenses. These accounts are usually set up and managed by an HSA or FSA administrator, and you should have access to said HSA/FSA administrator through your employer (ask your HR department!).
HSAs are typically associated with a high-deductible health plan, and funds do not expire. FSAs are independent of your health plan, and funds elections occur in October-November each year for the following calendar year. FSA funds expire every calendar year.
Unfortunately, HSAs and FSAs are not available outside of the US, and self-employed individuals (who do not have an HSA from a previous employment) do not qualify for HSAs or FSAs. -
What is Truemed?
Truemed partners with merchants and brands to enable qualified clients to use HSA/FSA funds on qualified products and services that are used to treat, mitigate, or prevent a diagnosed medical condition. Truemed partners with a network of individual licensed practitioners who evaluate clients’ eligibility and issue Letters of Medical Necessity to qualifying clients, thereby saving clients money on legitimate medical expenditures.
Truemed is backed by best-in-class investors, including functional medicine pioneer Mark Hyman and founders from Thrive Market, Eight Sleep and Levels. -
How does using my HSA/FSA
account save me money?HSA/FSA accounts were created so individuals could use pre-tax money to pay for expenses used to treat, mitigate, or prevent a diagnosed medical condition. Because HSA/FSAs use pre-tax money, you’re getting more purchasing power for your dollars. Rather than pay taxes on income and then spend it on health items, qualified clients can use pre-tax funds to invest in their health.
An individual can contribute up to $4,150 pretax to their HSA per year, or $8,300 for a family (plus an additional $1,000 if you are at least 55 years old). Almost every qualified individual will save between $1,000 and $2,000, depending on their state and tax rate. -
What is a Letter of Medical Necessity?
In order to determine whether certain products or services are legitimate expenses for treating, mitigating, or preventing a diagnosed medical condition, HSA/FSA plan administrators often require a letter from a licensed practitioner. This letter is called a “Letter of Medical Necessity.”
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I don’t have an HSA/FSA. Can I still benefit from Truemed?
Unfortunately, Truemed’s services are for individuals who have HSA or FSA accounts (or plan to fund one during open enrollment). We encourage you to ask your employer about information on your HSA or FSA!
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I don’t live in the US. Can I still get reimbursed with Truemed?
Unfortunately, Truemed is currently only available in the United States.
Truemed Process
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Can I just use my HSA/FSA card at checkout?
We do not recommend attempting to checkout with your HSA/FSA cards for compliance purposes. We strongly encourage simply transacting with your normal credit or debit card, and submitting for reimbursement as outlined above for the greatest likelihood of success.
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What is the step-by-step process for submitting to HSA/FSA administrators for
reimbursement?Check out this article to get a comprehensive understanding of the reimbursement process.
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How long does HSA or FSA reimbursement take?
For most FSA/HSA administrators, your expenses will be approved within days when you submit your claim for reimbursement along with your receipt and a Letter of Medical Necessity. The exact timing will vary based on your administrator.
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Can I use Truemed’s services for past purchases?
While this depends on your specific HSA or FSA administrator’s policies, we advise that you only submit expenses incurred on or after the date listed on your Letter of Medical Necessity.
HSA/FSA Account Questions
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I don’t have enough funds in my HSA/FSA account to reimburse the entire purchase.
Can I still use Truemed?Yes. You can still submit for partial reimbursement. For example: if you purchase an eligible item for $100 but only have $60 in your account, you can reimburse $60 of your purchase with your tax-free funds (with the remaining $40 paid for as normal).
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What if my reimbursement is rejected by my HSA/FSA administrator?
Please contact us at support@truemed.com so we can help you troubleshoot the issue. HSA/FSA plan administrators often have detailed requirements, so it may be as simple as re-issuing your Letter of Medical Necessity using the administrator’s form.
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What if I haven’t contributed to my HSA/FSA. Will I still be able to maximize my savings?
For most Americans, open enrollment is in the last four months of the year. Simply elect to make or increase contributions to your HSA or FSA during this time and you can begin shopping with Truemed merchant partners starting on January 1st. Truemed enables qualified individuals to spend their HSA or FSA dollars on products that a licensed practitioner recommends in a Letter of Medical Necessity to treat, mitigate, or prevent a specific, diagnosed medical condition. Funds that you contribute to a HSA or FSA will be pulled from your paycheck, prior to tax withholding, by your HSA/FSA administrator in equal installments through the year.
