How to Use HSA/FSA Funds on Fitness Equipment: BowFlex x Truemed

BowFlex has partnered with Truemed, a telehealth and payments company, so qualified customers can now use their Health Savings Account (HSA) or Flexible Spending Account (FSA) to purchase fitness equipment, saving an average of 30% by paying with pre-tax dollars.*

The partnership also includes BowFlex's sister brands, Schwinn Fitness and Horizon Fitness, making qualifying at-home strength training equipment, treadmills, and exercise bikes from all three brands HSA/FSA eligible through Truemed at checkout.

How do I buy BowFlex equipment with my HSA or FSA?

Using your HSA/FSA funds to purchase BowFlex products is simple, and it all happens within the checkout process:

1. Add eligible products to your cart. Most BowFlex products — including treadmills, strength machines, Max Trainers, and adjustable strength equipment — are eligible. HSA/FSA-eligible products are marked as such on the product page and in your cart. Shop HSA/FSA eligible BowFlex products.
2. Choose Truemed at checkout. Use the standard checkout, then select 'Truemed — Pay with HSA/FSA' as your payment method.
3. Take a health survey. An independent licensed practitioner will review your answers and determine your eligibility, including whether you qualify for a Letter of Medical Necessity (LMN).
4. Once you qualify, you're done. Use your HSA/FSA card or pay with a regular credit card and submit for reimbursement with your LMN. Your HSA/FSA card will not be charged until your LMN has been issued.

How does using my HSA/FSA save me money?

HSA and FSA contributions come out of your paycheck before income tax, so they stretch further than taxed dollars. That means more purchasing power on qualified expenses. Depending on your tax rate, you could save an average of 30% by applying pre-tax dollars to the purchase of eligible equipment. Actual savings depend on your tax rate and plan.

Exercise equipment can qualify as a medical expense when a licensed provider determines it's medically necessary. Truemed establishes this through its health survey, which is reviewed by licensed practitioners.

Which BowFlex products are HSA/FSA eligible?

Most BowFlex products are HSA/FSA eligible through Truemed. Select exceptions include mats, stands, protection plans, and some accessories.

Once you add items to your cart and select Truemed as your payment option, HSA/FSA eligible items will be marked accordingly. Any ineligible items must be paid for with a credit card or another payment method at checkout.

You can explore eligible products on our website.

FAQ: Using HSA/FSA Funds to Purchase BowFlex Fitness Equipment

What is a Letter of Medical Necessity?

A Letter of Medical Necessity (LMN) is a formal document that a licensed healthcare practitioner writes to explain why a specific treatment, product, or service is essential for a patient's health. Health insurance providers, health savings accounts (HSAs), or flexible spending accounts (FSAs) may request an LMN before reimbursing an expense.

Exercise equipment can qualify as a medical expense when accompanied by a Letter of Medical Necessity (LMN). Keep it on file, since your plan administrator may ask for it.

How long does it take to receive my Letter of Medical Necessity?

Generally 2-5 hours, but you can place your order while you wait. In some cases, Truemed's provider team will require additional time to issue an LMN based on the needs associated with your qualification survey. If you don't see your letter in your inbox, check your spam folder, then reach out to Truemed at support@Truemed.com for help.

What's the difference between an HSA and an FSA?

Both hold pre-tax money for eligible health expenses. HSA funds roll over each year; FSA funds usually must be spent by a plan deadline, which is often the end of the calendar year.

When should I use my HSA/FSA dollars on fitness equipment?

You can use your HSA/FSA funds all year long. However, FSA dollars expire at the end of the year, and unused money may not roll over into the next year. Check your plan's dates before December so you don't lose your balance.

Is everyone approved?

No. A licensed practitioner determines eligibility, and your plan administrator makes the final decision on any claim.

Can I use my regular credit card at checkout?

Yes. If you'd prefer to use your regular credit card, rather than your HSA/FSA card, Truemed will send you instructions on how to submit for reimbursement from your HSA/FSA administrator.

*Truemed is for qualified customers. HSA/FSA tax savings vary. Learn more at truemed.com/disclosures. BowFlex is not a tax advisor, medical provider, or benefits administrator.