Save up to 40% off your gym expenses with your HSA/FSA
Key points:
Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) allow you to save pre-tax dollars you can use to pay for eligible medical expenses.
Gym membership and fitness class fees do not immediately qualify as eligible HSA/FSA expenses. But they may qualify if a provider recommends that you exercise to prevent or treat a medical condition.
For fitness expenses to qualify for HSA/FSA reimbursement, a provider must write a Letter of Medical Necessity detailing why exercise prevents or treats a specific medical condition. Qualifying patients may be able to get a Letter of Medical Necessity online with a Focused Physio consultation.
It’s abundantly clear that regular movement and exercise benefits us.
But scores of research show that physical activity can prevent or reverse conditions like hypertension, diabetes, chronic pain, and more. Fitness can also support brain health. And it improves mood and self-esteem for those with mental health issues.
If you’re exercising to prevent or treat a condition, you may be able to pay for fitness fees with funds from your Health Savings Account (HSA) or Flexible Spending Account (FSA). Paying with these funds means you won’t pay income tax on the money you spend on gym memberships or fitness class fees.
But to get coverage, you need a Letter of Medical Necessity from a licensed provider.
Focused Physio makes it easy to do this online with a quick $25 consultation.