Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) let you set aside pre-tax dollars for eligible healthcare expenses. If you're unsure whether you have an HSA or FSA, check with your employer or insurance provider.

TrueMed collaborates with health and wellness brands to help eligible customers use pre-tax HSA/FSA funds for their purchases. Through a network of medical practitioners, TrueMed facilitates the issuance of Letters of Medical Necessity for qualifying customers, allowing them to apply pre-tax HSA/FSA funds toward medically necessary health and wellness products. For more details, email support@truemed.com.

If you don’t have an HSA/FSA card, you can complete your eligible Peloton equipment purchase using a credit or debit card through the TrueMed checkout option. After completing TrueMed’s qualification survey, you’ll receive an option to submit payment via TrueMed. If you qualify, TrueMed will email you a Letter of Medical Necessity (LMN) along with detailed instructions on how to submit your payment to your HSA/FSA plan administrator for reimbursement. To receive reimbursement, you’ll need to submit both your LMN and Peloton purchase receipt to your HSA/FSA plan administrator.If you do not qualify, you can cancel your order at any time before delivery. If your cancellation is valid, your refund will be processed through TrueMed. For more details, email support@truemed.com.

HSA/FSA accounts are funded with pre-tax dollars, allowing you to avoid income tax on the money contributed (up to IRS-established limits) and used for qualified medical expenses. The amount you save depends on your federal and state income tax brackets, which are based on your annual taxable income.

For most HSA/FSA administrators, expenses are approved within a few days when submitted with your TrueMed Letter of Medical Necessity. However, processing times may vary depending on your administrator.

You can use your HSA/FSA funds year-round. However, FSA dollars expire at the end of the year, and any unused funds may not roll over. Be sure to use your remaining FSA dollars before December 31st—don’t let them go to waste!

The items listed in your TrueMed Letter of Medical Necessity (LMN) are now considered qualified medical expenses, just like a visit to the doctor’s office or a prescription medication. There are numerous studies showing that food and exercise are often the most effective ways to prevent and reverse disease. With an LMN, exercise qualifies as a medical expense. Food, supplements, and other wellness products can also be considered medical expenses if they treat or prevent an illness and are supported by a doctor’s recommendation. Your TrueMed LMN meets all IRS requirements to ensure your wellness purchases are fully reimbursable. We guarantee that if any HSA/FSA purchase outlined in our LMNs is rejected, TrueMed will cover the full amount you should have saved.