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31 Ιαν 2024 · How To Buy HSA-Approved Exercise Equipment. Once you’re approved to purchase HSA-approved exercise equipment, there are two ways to make your purchase. The first is through reimbursement, which can be complicated. The second is through direct HSA payment, where it’s available. Obtain Your Letter of Medical Necessity
Can you pay for exercise equipment with an HSA? If you have a high-deductible health insurance plan (HDHP) or are considering getting one, you may be wondering if you can save money by paying for exercise equipment with the funds in your health savings account (HSA).
An HSA is one of the only retirement savings vehicles that allows you to make payroll contributions tax-free, grow your savings tax-free (interest and investment earnings are not taxed), and withdraw funds income tax-free (if they're used for qualified medical expenses).
Exercise equipment may be eligible for reimbursement with a Letter of Medical Necessity (LMN) with a flexible spending account (FSA), health savings account (HSA) or a health reimbursement arrangement (HRA).
Exercise equipment may be eligible for reimbursement with a Letter of Medical Necessity (LMN) with a flexible spending account (FSA), health savings account (HSA) or a health reimbursement arrangement (HRA).
A treadmill may be eligible for reimbursement with a Letter of Medical Necessity (LMN) with a flexible spending account (FSA), health savings account (HSA) and health reimbursement arrangement (HRA). A treadmill is not eligible for reimbursement with a limited-purpose flexible spending account (LPFSA) or a dependent care flexible spending ...
5 Φεβ 2024 · Whenever you have an expense that requires a diagnosis to be HSA-eligible, be sure to obtain the necessary documentation from your medical provider. If you need an item or service that you...
