Why HSA/FSA Funds SHOULD be Accessible for Fitness as Preventative Healthcare

infographic depicting the key differences between HSA and FSA savings options

In the evolving landscape of healthcare, preventative measures are increasingly recognized as critical to reducing chronic disease and improving overall well-being. Fitness, as a cornerstone of preventative care, deserves a more prominent role in how Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are utilized. This article explores why fitness should qualify as a preventative healthcare expense under HSA/FSA guidelines and highlights the transformative partnership between Truemed and fitness providers like Peloton.

A Case for Fitness as Preventative Healthcare

The Health Benefits of Physical Activity

Physical activity is one of THE most effective forms of preventative medicine. Research has consistently shown that regular exercise reduces the risk of chronic diseases such as cardiovascular disease, diabetes, obesity, cancer, osteoporosis, and depression. It also improves mental health, enhances quality of life, and lowers the risk of premature death. For example:

A study revealed that individuals transitioning from sedentary lifestyles to active ones reduced their relative risk of death by 44% over five years.

– Even modest increases in fitness levels yield significant health benefits, including improved cardiovascular health and reduced likelihood of chronic conditions like hypertension.

These findings underscore the importance of integrating fitness into healthcare strategies to mitigate long-term risks.  As our healthcare providers are not doing enough, in my personal opinion, at least the financial side of the healthcare equation should make more meaningful accommodations to fitness access.

Cost Savings Through Preventative Care

Preventative care, including fitness, can lead to substantial cost savings. So many of us have gotten tripped up with decision making around our health by minimizing our options to what our healthcare plan will cover.  We need to flip that thought process and go back to the genesis of insurance in the first place.  A goal “should” be to be self-insured.  Well, that’s not practical for most of us for many reasons.  What’s the next best alternative?  Plan for and leverage insurance to minimize financial risk and protect yourself when major issues arise; avoid using insurance to pay for every little test, checkup, medication, etc.  Consider a higher deductible, lower premium plan that allows you to set money aside for prevention and to cover the deductible “should” the need arise.  By addressing health risks early through exercise, individuals can avoid expensive treatments for advanced diseases. This not only benefits individuals but also reduces the financial burden on healthcare systems. For instance:

– Regular physical activity can prevent costly interventions for conditions such as diabetes or heart disease.

– Fitness-driven preventative care aligns with the purpose of HSAs/FSAs: to cover medical expenses that improve or maintain health.

Allowing HSA/FSA funds to be used for fitness expenses would incentivize proactive health management while reducing long-term healthcare costs.

Fitness as a Medically Necessary Expense

Under current IRS guidelines, HSA/FSA funds can be used for fitness expenses if deemed medically necessary by a healthcare provider. This often requires a Letter, or Statement, of Medical Necessity (LMN/SMN), which connects physical activity to the treatment or prevention of specific medical conditions like obesity or hypertension. However, this process could be streamlined to make fitness more accessible as a preventative measure rather than solely reactive treatment.

Truemed is a provider who specializes in supporting fitness as preventative healthcare.  They partner with gyms and fitness-related studios to offer clients a consultation for a LMN/SMN, which authorizes use of their HSA/FSA funds for fitness memberships and session pack purchases.  The Well Studio is partnered with Truemed and a number of their clients have already benefited from this relationship to take advantage of leveraging pre-tax dollars to cover their membership dues.

The Role of Fitness in Mental Health

Exercise is also a powerful tool for improving mental health. It has been shown to alleviate symptoms of depression and anxiety while enhancing mood and cognitive function. Given the rising prevalence of mental health issues globally, promoting fitness through HSA/FSA funds could address both physical and psychological well-being.

How Truemed Revolutionizes Access to Preventative Fitness

Truemed is at the forefront of transforming how consumers utilize HSA/FSA funds for preventative healthcare. By simplifying access to eligible fitness tools and programs, Truemed empowers individuals to prioritize their health affordably and conveniently.

Simplifying HSA/FSA Eligibility

Truemed streamlines the process of using pre-tax dollars for fitness expenses by educating consumers on eligibility requirements and providing tools like Letters of Medical Necessity when needed. This removes barriers that often discourage people from leveraging their HSA/FSA funds for proactive health measures.

Expanding Access Through Partnerships

Truemed’s collaboration with leading fitness providers like Peloton exemplifies its mission to make fitness accessible to everyone. Through this partnership:

– Consumers can use their HSA/FSA funds to purchase Peloton memberships and equipment, making high-quality fitness solutions more affordable.

Truemed bridges the gap between financial incentives and health outcomes by enabling individuals to invest in their well-being without additional out-of-pocket costs.

This partnership underscores how innovative payment solutions can align financial resources with preventative healthcare goals.

Breaking Down Financial Barriers

By unlocking HSA/FSA funds for non-traditional healthcare expenses like gym memberships or CrossFit classes, Truemed challenges outdated notions of what qualifies as “healthcare.” This approach not only democratizes access to fitness but also redefines it as an essential component of true healthcare.

Why We Love Our Partnership with Truemed

Our collaboration with Truemed represents a shared vision: redefining healthcare by emphasizing prevention over treatment. Here’s why this partnership is so impactful:

Shared Commitment to Preventative Care

At its core, Truemed’s philosophy aligns with our belief that movement is medicine. By advocating for the use of HSA/FSA funds for fitness expenses, Truemed helps individuals take control of their health proactively rather than reactively.

Making Fitness Accessible

Through Truemed’s innovative payment solutions, we’ve seen firsthand how eliminating financial barriers encourages more people to embrace fitness as part of their daily lives. Whether it’s a Peloton membership or yoga classes, these tools become accessible investments in long-term health.

Driving Awareness

Truemed doesn’t just provide solutions; it educates consumers about the importance of preventative care and how they can maximize their HSA/FSA benefits. This empowers individuals with knowledge while fostering healthier communities overall.

Conclusion: A Call to Action

The integration of fitness into HSA/FSA eligibility represents a paradigm shift in how we approach healthcare—one that prioritizes prevention over costly treatments. With overwhelming evidence supporting the role of exercise in reducing chronic disease risk and improving quality of life, it’s time for policymakers and employers to embrace this change.

Our partnership with Truemed exemplifies what’s possible when innovation meets purpose: making preventative care accessible, affordable, and impactful. Together, we’re not just reshaping how people think about their health; we’re building a future where true healthcare begins with prevention.

Let’s unlock the potential of HSA/FSA funds for fitness—because investing in movement today means healthier lives tomorrow!

———–

The Well Studio in downtown Dublin, California is a boutique yoga, pilates and strength studio.  Their leadership team has a vast background in both the fitness industry and the healthcare industry.  They believe strongly in the role that personal training, yoga, pilates, group fitness, mindfulness, nutrition and nutritional supplementation plan in preventative healthcare.  In such, they have sought out and established partnerships with numerous innovative, health-conscious partners to offset costs and increase access to fitness.