Meal kit company Daily Harvest began accepting funds this year after partnering with HSA and FSA. A service called Truemedworks with eligible businesses to help customers determine whether they are eligible to spend HSA and FSA funds on certain health-related products and services. In addition to Daily Harvest, the company partners with a variety of health and fitness companies, including his CrossFit, Barry's, CorePower Yoga, InsideTracker, and Viome, which offers gut microbiome testing and personalized meal plans.
Truemed has so far only partnered with food retailers such as: Sakara, It's a plant-based food delivery service offering meals like smoothie bowls, veggie burgers, and the Winter Sun Salad made with tricolor quinoa, roasted carrots, Brussels sprouts, and honey Dijon dressing. However, TrueMed co-founder Callie Means said the company plans to announce further partnerships with other major food brands soon.
Shop for health with pre-tax money
Here's how it works:you can Starting with TrueMed Click on the Where to Buy portal. You can shop by category, choosing from Health Foods, Supplements, Fitness, Health Tech, Sauna, Cold Plunge, Sleep, Home and Mental Health. Or maybe the company's website says, “HSA/FSA is eligible for Truemed.” Clicking on any of these options will take you to a form to determine your eligibility. If applicable, Truemed will generate a “letter of medical necessity” from your doctor (basically a prescription for diet and exercise).
Once approved, you typically pay for meals, memberships, and other items with your PayFlex card, or pay with a credit card and submit receipts and proof of medical necessity through your HSA/FSA account for reimbursement. I can. In most cases, there is no cost to the consumer, but some merchants may ask the customer to pay his $30 fee. According to Means, Truemed employs the highest level of data privacy protection and does not sell email addresses or other information.
Means, a former food industry lobbyist, said Americans have about $150 billion combined in HSA and FSA accounts. But most of that money is spent on drugs and treatments to treat chronic diseases, not prevent them. Part of the reason is that many people with these accounts realize that under federal law it is possible to spend his HSA and FSA funds on nutritious meals and gym memberships. Because you haven't.
“HSA is really good public policy because it gives consumers choice,” Means said. “The question is, 'Do you want to save that money to get sick? Or do you want to use that tax-advantaged money for food to get healthy?'”
While Truemed has begun offering HSA/FSA eligible food and fitness products that require a letter of medical necessity, other websites such as: HSA store and FSA store, menstrual products, heating pads, home first aid kits, massagers, acne and skin care treatments, and a variety of other gadgets and amazing items that can also be purchased with tax-free dollars. Also, some products, such as the Oura Ring His Tracker, allow customers to use their PayFlex card at checkout.
Sarah, a software engineer who goes by the handle @bbysarita on TikTok, used her HSA account to pay for doctor's visits and buy things like sunscreen and Therabody compression boots. But it wasn't until recently that I realized I could use my HSA account to buy food. (Sarah requested that only her first name be used to protect her privacy.)
In November, she announced that from Daily Harvest, customers can use their Health Savings or Flexible Spending Accounts to purchase frozen plant-based meals like banana almond smoothies, chickpea and coconut curry bowls, and black bean chili. I received an email informing me.
“There are things like mint chocolate smoothies, but I don't have the time or energy to buy them or prepare the meals myself,” she said in an email. “We also have vegetable dishes that can be prepared in the microwave, making them perfect to take to school or work.”
She was so excited about the tax free meal plan that I posted a video about it Her TikTok account has 42,000 followers (she said Daily Harvest doesn't pay her for posting videos).
“Seeing that they were accepting HSAs made me think that not only was this a better choice financially, both in terms of time and finances, but it was also a more enjoyable choice,” she said .
The IRS generally doesn't allow you to spend pre-tax money on gym memberships. However, you can comply with IRS guidelines by obtaining a letter of medical necessity from your doctor. As long as your doctor clearly states that you need to exercise to improve, treat, or prevent a specific disease or condition, you're following the rules.
“We've had progressive doctors writing notes about diet and exercise, and we're bringing that to the masses and making it seamless,” Means said. “Our goal is to open this up and channel HSA/FSA funds into healthy actions.”
Your doctor can also prescribe exercise, but many doctors are not familiar with this idea. Kevin Robertson, senior vice president at HSA Bank, one of the largest HSA providers, said such uses of HSA/FSA funds are rare, and the main reason is that “people don't think they can do it. This is because they don't know that something is going on.''
CrossFit and Orange Theory were among the first gym companies to partner with TrueMed.
“We think of exercise as health care,” says Jen Green, who owns a CrossFit gym in South Carolina and also manages operations for CrossFit's U.S. affiliate.
She trialled it at her gym, and members and prospective members alike were excited. Since September, nearly 500 of her CrossFit affiliates have signed on to her TrueMed platform.
“We had 10 members sign up in the first week,” said Alexis Jaramillo, owner of Mount Tabor CrossFit in Portland, Ore. “We had 10 members sign up in the first week, and they said, 'You can use the money you've already saved.' It felt like that,” he said.will support us in the long term outside In the examination room. ”
Have questions about healthy eating? Email [email protected] I may answer your question in a future column.
