HSA/ FSA Eligibility

 

HOW TO USE YOUR FSA/HSA FUNDS

We’re excited to share a way for you to save on our Products and Services. Through our partnership with TrueMed, you may be eligible to use your Health Savings Account (HSA) or Flexible Savings Account (FSA) toward your purchases.

Get qualified to reimburse your future service or product purchases in three steps:

  1. Take the 2-minute evaluation to find out if you’re eligible.

  2. If eligible, TrueMed will email you a Letter of Medical Necessity.

  3. Once you get your Letter of Medical Necessity, TrueMed will send you detailed instructions to pay with HSA/FSA funds going forward.

What is Truemed?

Truemed partners with health and wellness brands like us to enable qualified customers to use HSA/FSA funds on health and wellness purchases. Truemed partners with a network of medical practitioners who can issue Letters of Medical Necessity to qualifying customers, thereby saving customers money on health and wellness purchases.

If written, your Letter of Medical Necessity (LMN) represents your provider's clinical opinion that a PEMA protocol should be used for the primary purpose of preventing disease. This LMN can be used to purchase defined items with your HSA/FSA. This LMN falls under general health guidance and does not constitute the practice of medicine or establish a duty of care between you and your provider. This service is not a replacement for a Primary Care Provider.

FAQs

  • The items in your True Medicine Letter of Medical Necessity (LMN) are now qualified medical expenses in the same way a visit to the doctor’s office or pharmaceutical product is.

    We are facing a chronic disease in the US. There are thousands of studies showing food and [exercise](https://www.health.harvard.edu/staying-healthy/exercise-is-still-the-best-medicine#:~:text=Regular exercise may be able,a day of moderate activity.) is often the best medicine to prevent and reverse disease. Exercise qualifies as a qualified medical expense with an LMN. Food, supplements, and other wellness purchases qualify as a medical expense if they treat or prevent an illness, and a doctor substantiates the need. Your Truemed LMN satisfies all IRS requirements to make your wellness spend fully reimbursable.

    We will do our best to make it up to you if any HSA/FSA purchase outlined in our LMNs is rejected. We typically offer 40% of the purchase value. Read the full details of our policy in our Terms of Service, and please email support@truemed.com if you have any questions or need assistance.

  • Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) are tax-free accounts that can be used to pay for qualified medical 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!).

    There are key differences between an HSA and an FSA account, as outlined by Optum (a leading HSA/FSA administrator) in this article.

  • HSA/FSA accounts were created so patients could use pretax money to pay for expenses incurred in the prevention or alleviation of a disease. Because HSA/FSA uses tax-free money, you’re getting more purchasing power for your dollars. Rather than pay taxes on your income and then spend it on health items, you can use pre-tax funds to invest in your health.

    An individual can contribute up to $3,650 to their HSA per year. Almost every patient will save between $1,000 and $2,000, depending on their state and tax rate. Use a calculator here to estimate your savings.

  • For most HSA/FSA administrators, your expenses will be approved within 7-10 days when you submit your receipt along with a Letter of Medical Necessity. Reimbursement timing depends on your specific HSA/FSA administrator.

  • There are 3 tax forms associated with health savings accounts (HSAs): IRS Form 1099-SA, 5498-SA, and IRS Form 8889. You will use the information in your 1099-SA form, available from your HSA administrator (typically sent directly to you during tax season), to fill out IRS tax form 8889. Form 8889 is the only one you need to submit with your taxes.

    Ensure you retain copies of all your submitted documents for your records. If you encounter any issues, reach out to your HSA/FSA administrator’s customer service or get in touch at team@truemed.com for further guidance.

Reimbursment Hows

  • You should have received a Letter of Medical Necessity (LMN) from Truemed.com. Your LMN is an important document that substantiates that your purchase is helping you prevent, treat, or alleviate a disease, thus allowing you to use tax-free HSA/FSA dollars. Once issued, your LMN is valid for 12 months from the day you receive it.

  • If you are unsure who your HSA/FSA administrator is, consult your employer's HR department.

  • Use your credentials to access your HSA/FSA administrator’s online platform. If you don't have an account, you'll likely need to create one. At the bottom of this document, you will find links and specific instructions for the most popular HSA/FSA administrators.

  • Most HSA/FSA online platforms will have a dedicated section for reimbursements or claims. Navigate to this section.

  • You will be required to upload two essential documents:

    • Your LMN from Truemed

    • The receipt for whatever item or service you purchased when going through the Truemed health survey

  • Once submitted, it usually takes anywhere from a few days to a few weeks for the administrator to process your claim. The reimbursement amount will be deposited directly into your designated account.

  • You can use the same LMN to claim reimbursement for future receipts as long as the LMN remains valid (i.e., within 12 months of issuance), and the items are eligible via the LMN.