How to Save on Your RxFit Sessions with HSA/FSA Reimbursements through TrueMed
Did you know that your fitness sessions with RxFit could be eligible for reimbursement through your Health Savings Account (HSA) or Flexible Spending Account (FSA)? Many clients are surprised to learn they can save 25-40% by using pre-tax dollars to pay for their health and wellness needs. Let us guide you through the process to make your RxFit sessions even more affordable!
Step 1: How to Get Started with TrueMed
We’re working with TrueMed, a company that helps you easily qualify your fitness-related expenses for HSA/FSA reimbursement. TrueMed simplifies the process, so you don’t have to navigate the complex tax rules yourself. Here’s how you can get started:
- Start the Qualification Process: Visit the following link to begin: TrueMed Qualification for RxFit.
- Complete the Survey: TrueMed will ask you a few health-related questions to see if your fitness program can help prevent or reverse a health condition, making it eligible for reimbursement.
- Get Your Letter of Medical Necessity (LMN): Once qualified, TrueMed will provide you with a Letter of Medical Necessity (LMN), which you’ll need to submit along with your receipts to your HSA/FSA provider.
- Submit Your Receipts: After you receive the LMN, keep track of your RxFit session receipts. At least once per calendar year, submit these receipts along with the LMN to your HSA/FSA provider for reimbursement.
Step 2: What You Need to Know About Payments
While you might wonder if you can pay directly using your HSA or FSA card, we recommend using your regular credit card for your RxFit sessions and then seeking reimbursement afterward. Here’s why:
- HSA Cards: Some HSA cards may be rejected due to the nature of fitness services.
- FSA Cards: FSA cards are almost always rejected for fitness-related services.
By paying with your regular card and using TrueMed for reimbursement, you’ll avoid any potential hiccups during checkout and still receive your reimbursement seamlessly.
Step 3: TrueMed Fees and Savings
TrueMed charges a one-time fee of $30 when you complete the survey. However, this cost can easily be reimbursed once you get back just $100 from your HSA/FSA account. Plus, the overall savings you’ll experience by using tax-free funds will more than cover the small fee, giving you back an average of 25-40% of your spending based on your income tax rate.
Frequently Asked Questions
- How much can I save?
You can save the equivalent of your income tax rate—usually around 25-40%. By reimbursing yourself with tax-free HSA/FSA funds, you are avoiding paying taxes on your fitness expenses. - Do I need to change how I pay RxFit?
No, you continue to pay RxFit as you normally do. After qualifying through TrueMed, you simply submit your receipts for reimbursement to your HSA/FSA provider once per year. - Is TrueMed free for me?
Yes, TrueMed is free for RxFit. You only pay the $30 fee to complete the survey, which will be reimbursed once you claim just $100 in payments.
Ready to Save?
Getting reimbursed for your RxFit sessions is easy and could save you a significant amount of money. Start the process today by visiting TrueMed Qualification for RxFit. TrueMed will guide you through the rest, including providing a Letter of Medical Necessity, and you’ll be on your way to more affordable fitness and wellness services.
Take charge of your health and save on your fitness journey with RxFit and TrueMed!
