Can I Use My HSA or FSA for Personal Training?
If you've ever wondered if you can use your HSA (Health Savings Account) or FSA (Flexible Spending Account) funds to pay for personal training, you're not alone. These accounts are powerful tools for saving money on healthcare expenses, but using them for fitness services comes with specific requirements. At Limitless Fitness, we’re here to help you navigate this and make the most of your health investments.
What Are HSA and FSA Accounts?
Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) allow individuals to set aside pre-tax dollars for eligible medical expenses, providing significant tax advantages. For 2024, the contribution limits are:
HSA: $4,150 for individuals or $8,300 for families (plus an additional $1,000 if you're 55 or older).
FSA: Up to $3,200 (with an additional $500 in employer contributions allowed).
HSA and FSA funds can be used for a wide range of medical services and products, but using them for personal training requires specific documentation.
Personal Training as a QUALIFIED Medical Expense: What You Need to Know
The IRS allows HSA and FSA funds to be used for expenses that treat, prevent, or mitigate a diagnosed medical condition. While personal training is not typically classified as a "qualified medical expense," it can qualify if it is prescribed by a healthcare professional as part of a treatment plan. This is where a Letter of Medical Necessity (LMN) comes into play.
An LMN is a document from your doctor stating that a specific service—like personal training—is necessary for your health. This letter should include:
Your diagnosis.
Why the service is necessary.
How it will be used to treat your condition.
How to Utilize HSA/FSA Funds for Personal Training
Here’s how to determine if you can use your HSA/FSA funds for personal training:
Consult Your Doctor:
Speak with your healthcare provider about your health goals and needs.
If your doctor believes personal training is necessary for your health (e.g., managing diabetes, recovering from an injury, or improving cardiovascular health), they can provide you with an LMN.
Submit Your LMN to Your HSA/FSA Administrator:
Ensure the letter meets your administrator’s requirements.
Use your regular ACH payment method for Limitless Fitness personal training.
Submit receipts along with your Letter of Medical Necessity for reimbursement.
Simplifying the LMN Process with Truemed
If getting an LMN feels overwhelming or your doctor isn’t familiar with the process, Limitless Fitness is also a qualified TrueMed partner. TrueMed can help you qualify for HSA/FSA spending on wellness services:
Start by taking a short health survey through their platform that will be reviewed by a licensed practitioner.
If eligible based on your survey, you will pay a $30 fee and the TrueMed’s licensed practitioners will issue you your Letter of Medical Necessity for Limitless Fitness (similar to a doctor writing a prescription). The letter is valid for up to 12 months.
Use the LMN to submit for reimbursement through your HSA/FSA administrator.
If you encounter any problems , TrueMed’s team will step in to either help navigate questions by your HSA/FSA administrator or, if the claim is denied, will refund you the $30 fee.
Why Use Your HSA/FSA for Personal Training?
Using your HSA or FSA for personal training means you’re using pre-tax dollars, effectively saving up to 30% (or more, depending on your tax rate). This makes it easier to prioritize your health without compromising your budget.
Start Your FITNESS Journey with Limitless
At Limitless Fitness located in the Seacoast of New Hampshire we offer personalized one-on-one training tailored to your unique needs and goals. Whether managing a medical condition or investing in your overall well-being, our team of personal trainers are here to support you.
To explore using your HSA/FSA for personal training, consult your healthcare provider about your eligibility for a Letter of Medical necessity or conult a Truemed telehealth professional here.