HSA/FSA Payments
Pay for Your Wahoo Products with Qualifying HSA/FSA Funds
We've partnered with to give you the ability to use your Health Savings Account (HSA) or Flexible Spending Account (FSA) for your qualifying purchase. With Truemed, you may be eligible* to save up to 30% by using pre-tax dollars, helping you leverage pre-tax savings, which lowers your overall cost based on your tax bracket.
Funktionsweise
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1
Choose Pay with HSA/FSA Funds at Checkout
- You will be redirected to the Truemed website.
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2
Take a Brief Health Survey
- Answer questions about your HSA/FSA and your health.
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3
Complete Checkout through Truemed
- If you pay with a credit/debit card, you can reimburse yourself with HSA/FSA funds after checking out.
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4
Receive Your Letter of Medical Necessity
- A licensed medical provider will review your responses, and Truemed will send you a Letter of Medical Necessity if you qualify. If you do not qualify, your purchase will be refunded.
Truemed's Commitment
Convenient Payment & Reimbursement
Faq – häufig gestellte fragen
What is an HSA/FSA account?
Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) are tax-free accounts that can be used to pay for qualified health 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!).
HSAs are typically associated with a high-deductible health plan, and funds do not expire. FSAs are independent of your health plan, and funds elections occur in October-November each year for the following calendar year. FSA funds expire every calendar year.
Unfortunately, HSAs and FSAs are not available outside of the US, and self-employed individuals (who do not have an HSA from a previous employment) do not qualify for HSAs or FSAs.
What is Truemed?
How does using my HSA/FSA account save me money?
HSA/FSA accounts were created so individuals could use pre-tax money to pay for expenses used to treat, mitigate, or prevent a diagnosed medical condition. Because HSA/FSAs use pre-tax money, you’re getting more purchasing power for your dollars. Rather than pay taxes on income and then spend it on health items, qualified customers can use pre-tax funds to invest in their health.
An individual can contribute up to $4.150 pretax to their HSA per year, or $8.300 for a family. Those 55 and older can contribute an additional $1.000 as a catch-up contribution.
What is a Letter of Medical Necessity?
In order to determine whether certain products or services are legitimate expenses for treating, mitigating, or preventing a diagnosed medical condition, HSA/FSA plan administrators often require a letter from a licensed practitioner. This letter is called a “Letter of Medical Necessity.”
How long does it take to receive a Letter of Medical Necessity?
Generally it takes 24-48 hours. If you aren't seeing your letter in your inbox, check spam, then reach out to us at support@truemed.com for help!
I don’t have enough funds in my HSA/FSA account to cover the entire purchase. Can I still use Truemed?
You need to have the funds to cover the purchase to avoid a rejection.
What if my HSA/FSA payment is rejected by my administrator?
Please contact us at team@truemed.com so we can help you troubleshoot the issue. HSA/FSA plan administrators often have detailed requirements, so it may be as simple as re-issuing your Letter of Medical Necessity using the administrator's form.
Need Assistance?
If you're wondering how to leverage your HSA/FSA or need further details, don't hesitate to contact support.
*Savings amount depends on your federal and state income tax brackets, which is determined by your annual taxable income. Reimbursement eligibility is determined by the HSA/FSA administrator and is not guaranteed.