ABC Fitness and Truemed have joined forces in a game-changing collaboration that could help tens of millions of Americans use pre-tax dollars from their Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) at nearly 10,000 gyms and studios in the ABC Fitness network across the U.S.

The fitness tech company — the largest in the U.S. — supports more than 31 million gym and studio members. Its new partnership with Truemed, a platform that enables consumers to direct pre-tax funds toward health-related purchases, reinforces its ongoing advocacy for the Personal Health Investment Today (PHIT) Act. The proposed legislation aims to get more Americans active by lowering financial barriers to physical activity through tax incentives.

“Now, more gyms and studios in the U.S. can provide a more convenient process for members to qualify to use pre-tax funds for their gym memberships, training programs and other qualified services—empowering them to take control of their health in a more affordable way,” ABC Fitness president Khal Rai said.

While the fitness industry continues to show support for the PHIT Act, TrueMed has taken the reins to combat the metabolic health crisis that many Americans are facing. The platform streamlines the process of obtaining a Letter of Medical Necessity, which allows consumers to use pre-tax dollars for everything from fitness equipment to studio memberships.

“At Truemed, we believe that being healthy should be accessible and affordable for everyone,” Truemed founder Justin Mares said. “By teaming up with ABC Fitness, we’re making it easier than ever for qualified Americans to use the money they’ve already set aside for health expenses to invest in their fitness. The future of healthcare is proactive, and fitness is a key part of that equation.”

Since its launch in 2023, Truemed has partnered with leading brands such as Peloton, 24 Hour Fitness, CrossFit, Barry’s, Crunch, Hyperice and AG1. Nutrition and supplement company Shed was added to its network last month.

The post Truemed, ABC Fitness Team To Bring HSA/FSA Savings to Millions appeared first on Athletech News.

Shed is the latest health and wellness brand to partner with Truemed, a platform enabling consumers to direct their pre-tax Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) for health-related purchases, such as Shed’s supplements and nutrition products.

Consumers can either use their HSA/FSA cards at Truemed’s checkout or use their personal credit card and submit for reimbursement. The platform also provides letters of medical necessity.

“At Shed, we believe that health and wellness should be accessible to everyone and our partnership with Truemed makes that vision a reality,” Shed CEO Morley Baker said. “Now, our customers can use their HSA/FSA funds to purchase our supplements and nutrition products, making it easier for them to prioritize their health while saving money. This is a game-changer for anyone looking to enhance their wellness journey.”

Shed recently launched Clear Protein Hydration, a refreshing alternative to thick protein shakes.

In an interview last month with Athletech News, Truemed co-founder and CEO Justin Mares shared that many consumers are still in the dark on how easy it is to use HSA/FSA funds.

“Part of this is because, prior to a platform like Truemed, the process was much more arduous for these specific types of purchases,” Mares said. “Consumers would have to schedule a doctor’s appointment, describe their health history and goals in detail, ask them to fill out a Letter of Medical Necessity (LMN), pay a fee, and then wait potentially for weeks for their claim to be approved. Our goal is that by integrating all of this directly into the payment flow – it’s as easy as clicking “Pay with HSA/FSA” at checkout – people will be able to empower themselves to use pre-tax savings for products that manage chronic diseases but that may not previously have been recognized by medical institutions as preventative medicine.”

Mares said that during his time at Truemed, the platform has empowered nearly 200,000 Americans to purchase “root-cause items” with HSA/FSA funds.

“We’re confident that this movement will only continue to grow as more people catch on and realize the potential of what they can access,” he added.

The platform has forged partnerships with several other brands, including Peloton, CorePower Yoga, Crunch Fitness, CrossFit, Momentous and Plunge.

The post Shed Partners with HSA/FSA Platform Truemed appeared first on Athletech News.

Healthcare reform is talked about in the news a lot these days, although it’s often viewed as an unattainable ideal by the media and general public alike. For Truemed, however, it’s already here. 

Founded by health and wellness entrepreneur Justin Mares and reformed former pharma lobbyist Calley Means, Truemed provides a platform that allows consumers to purchase fitness and wellness products including gym memberships, supplements and recovery gear using tax-free Health Savings Account (HSA) and Flexible Spending Account (FSA) funds.

On a mission to transform Americans’ health by making preventive care more widely available and affordable, Truemed already has partnerships with top fitness and wellness brands including Peloton, CorePower Yoga and Anytime Fitness, to name just a few. 

Mares, who serves as Truemed’s co-founder and CEO, sat down with Athletech News to discuss the rise of HSA/FSA funds in fitness, explain what sets Truemed apart from similar platforms and share his thoughts on what the U.S. government can do to implement meaningful healthcare reform.

The following conversation has been lightly edited for clarity and length.

Athletech News: Can you tell us about your background and why you decided to co-found Truemed? 

Justin Mares: I have a background in founding and scaling health and wellness startups, including Kettle & Fire, Perfect Keto and Surely. I went through my own journey with health and fitness in college, which is when I realized how transformational exercise and nutrition can be for both physical and mental health. The more I learned about the healthcare system, the more I realized the extent to which it’s built around medications and interventions that merely manage illnesses over a long period of time rather than treat them or prevent them from happening in the first place – 97% of medical costs occur after people are already sick.

One of our goals with Truemed was to introduce the idea that fitness, supplements and recovery are effective interventions in the fight against chronic disease, and then streamline the process for qualified customers to use HSA and FSA funds to purchase products and services that prevent or mitigate these conditions. Most people know they can use FSA funds for medical expenses like deductibles, co-pays and prescriptions, but they might be surprised by the broader range of options available. More and more, root-cause interventions like fitness programs, supplements, recovery tools and health technology are being recognized for their power to prevent and manage conditions such as diabetes and heart disease. 

ATN: Are enough Americans aware that HSA/FSA funds exist and that they can use them to purchase fitness and wellness products? If not, what’s the key to wider awareness?  

JM: I think a lot of people are still a bit overwhelmed by the concept, and don’t realize how simple it can be to use HSA/FSA funds for such a wide range of products and services. Part of this is because, prior to a platform like Truemed, the process was much more arduous for these specific types of purchases. Consumers would have to schedule a doctor’s appointment, describe their health history and goals in detail, ask them to fill out a Letter of Medical Necessity (LMN), pay a fee, and then wait potentially for weeks for their claim to be approved. 

Our goal is that by integrating all of this directly into the payment flow – it’s as easy as clicking “Pay with HSA/FSA” at checkout – people will be able to empower themselves to use pre-tax savings for products that manage chronic diseases but that may not previously have been recognized by medical institutions as preventative medicine. During my time at Truemed, we’ve enabled nearly 200,000 Americans to purchase root-cause items with HSA/FSA funds, and we’re confident that this movement will only continue to grow as more people catch on and realize the potential of what they can access. 

ATN: Truemed already has partnerships with top fitness and wellness brands like Peloton, CorePower Yoga and others. How have you been able to convince these brands to join the HSA/FSA movement?

JM: We’ve been extremely encouraged by how many incredible, consumer-loved brands have joined our mission and embraced Truemed as a core part of their business. One of the ways we’ve been successful in recruiting additional companies is by word of mouth, as brands see how much new business Truemed drives for them – in some cases, as much as 15-20% of new customers are ordering through Truemed. 

We’re also seeing that brands are not only getting more first-time customers through us but also different segments of the population that tend to be more cost-conscious. This is really heartening for us, as it shows that what we’re trying to do is working when it comes to increasing accessibility for consumers who want these products but otherwise may not have been able to purchase them without an HSA/FSA fund.

ATN: A few other HSA/FSA platforms have cropped up recently. What separates Truemed from its competitors?

JM: In addition to being the biggest HSA/FSA telehealth platform and working with the best merchants, we’re also the ones who essentially carved out this space and made it what it is. Our brands also tend to see the best results as far as conversion rates, average order value (AOV) and other metrics in comparison to our competitors.   

ATN: Do bills such as the PHIT Act, which would amend the IRS code to treat physical activity as preventive healthcare covered by allowable HSA/FSA spending, have a realistic chance of being passed? Or is a platform like Truemed a more realistic long-term solution?

JM: We aren’t sure if (PHIT) will pass, but what we do know is that there are a whole class of root-cause chronic disease interventions that are eligible and work today, they just require a doctor to issue an LMN.

ATN: There’s been a lot of speculation around what President Trump may do in his second term regarding healthcare reform. What would you like to see the U.S. government do to help Americans become healthier? 

JM: Several steps need to be taken in order to bolster the health of the American people on a societal level, all of which link back to embracing preventative care rather than sickcare. Due to the current structure of the healthcare system, it’s a lot more profitable for doctors to treat sick patients rather than address root causes and keep people healthy from the start, so the more we can do to reveal some of these corrupt practices, the more individuals will be able to take the power back into their own hands. 

As far as specific policy shifts, some sweeping changes that I’d love to see in the near future include ridding our food supply of dangerous chemicals, pesticides and dyes, eliminating our dependence on ultra-processed foods, and removing conflicts of interest from major institutions. In regard to this last point, many people might not realize that big pharmaceutical companies influence everything from nutritional guidance and research to mainstream news to the medications doctors choose to prescribe. Until we separate these larger entities from one another, patients will continue to be routed toward pharmaceuticals as the only solution, rather than first exploring the impact of lifestyle interventions.  

ATN: What’s your vision for the future of Truemed over the next few years? Could the company expand into other areas besides HSA/FSA payments? 

JM: One of our main goals is to continue partnering with great brands that are passionate about making preventative care more accessible for people trying to mitigate chronic health conditions. It’s been great seeing how many companies have already embraced what we’re trying to do over the past year, and we’re confident that we’ll have many more in the months to come, especially following the announcements of some industry leaders like Peloton, CorePower Yoga and Bioniq.

Moving forward, we hope to continue building on categories that are already represented and expand into others, namely health food options, as well as provide personalized guidance on certain partner brands of ours that could be paired together for optimal impact. 

The post CEO Corner: Truemed’s Justin Mares on HSA/FSA Funds in Fitness appeared first on Athletech News.

For Calley Means, fitness is medicine. 

The co-founder of telehealth platform Truemed, Means spoke at the recent Eudemonia summit, where he slammed America’s healthcare system as broken and corrupt while calling for systemic change that would prioritize healthy eating and physical fitness over pharmaceutical interventions like Ozempic to combat a nationwide chronic-disease crisis. 

A proponent of Robert F. Kennedy Jr.’s “Make America Healthy Again” movement with unofficial ties to the campaign of president-elect Donald Trump, Means can be something of a controversial figure. Means is also highly opinionated, and he’s got a distinct view on how the fitness industry should position itself to gain more respect among lawmakers in Washington.

Athletech News caught up with Means after Eudemonia to get his thoughts on fitness and the future of healthcare. 

Fitness as a Medical Necessity 

With more Americans obese and/or chronically ill than ever before, Means is calling on fitness brands to play a bigger role in improving people’s health. 

“We are in a metabolic health crisis that will destroy the United States of America – physical fitness is a linchpin of getting ourselves out of that,” Means told ATN. “There’s a generational opportunity for the gym industry to, in one voice, explain how they’re at the center of health.”

While direct government subsidies for gym memberships might seem like a pipe dream at this time, there are ways to lower the costs of fitness. Means points out that Americans can use tax-free money from health savings accounts (HSA) and flexible spending accounts (FSA) to buy things like gym memberships, workout equipment and supplements.

To use HSA/FSA funds for fitness and wellness, Americans must obtain a letter of medical necessity, or LMN, from a doctor, which confirms that the services in question are being used to prevent or treat a chronic condition.  

“The Health & Fitness Association and every single gym … should be educating every single American to demand a letter of medical necessity for exercise from their doctor if they’re working to prevent or reverse a condition,” Means said. 

The Rise of Truemed

According to Means, around 80% of Americans have the ability to use HSA/FSA funds but only around 40% do so. 

To encourage wider use of HSA/FSA funds, in 2022 Means co-founded Truemed, a telehealth platform that makes it easier for people to use tax-free funds to pay for fitness, wellness and health products. 

“We started the company looking at this proliferation of Adderall and Viagra being prescribed online,” Means recalled. “And we were like, ‘Can we use that same system to prescribe broccoli, Omega-3s and Pelotons?”

Essentially, Truemed speeds up the process of obtaining an LMN, removing time and friction from the shopping experience. When people check out to buy products ranging from exercise bikes to yoga memberships online, they can click an option to “pay with HSA/FSA funds” to get redirected to the Truemed website.

“Our innovation is we add that telehealth qualification process into the payment flow,” Means explained. “Just like a (financial) firm asks a couple of credit questions, we ask a couple of health questions.”

In the two years since its founding, Truemed has established itself as one of the dominant players in the growing fitness-as-healthcare movement, partnering with brands including Peloton, 24 Hour Fitness, Hyperice and AG1.

“We’re working with 18 of the top 20 Shopify health and wellness merchants,” Means said. “Almost every single direct-to-consumer company on our wish list when we started the company … is integrated with us.”

Fighting for Funds

Truemed’s fight isn’t a new one for the fitness industry – the Health & Fitness Association, formerly IHRSA, has long been fighting to pass the PHIT Act, a bill that would make gym memberships and youth sports count as qualified medical expenses under the HSA/FSA system, effectively bypassing the need for services like Truemed. 

Means, a former lobbyist for the food and drug industries who changed course after his mother died from pancreatic cancer, is skeptical that the PHIT Act will ever get passed, citing pharmaceutical companies’ influence in Washington and their interest in making sure such a bill never sees the light of day. 

Instead, Means argues that platforms like Truemed are more practical. As they become more widely used, eventually, a wider pool of HSA/FSA money may become available for Americans to use on fitness, health and wellness. 

“Right now, there’s $150 billion of flexible funds available,” Means said, citing the current nationwide pool of HSA/FSA funds. “In five years, it should be trillions.”

There’s no doubt that the road to improving Americans’ health is a long and arduous one. It almost certainly won’t be solved in one presidential cycle, no matter how bullish Means and his allies are on Trump’s promises of substantive healthcare reform. 

But the Truemed co-founder is optimistic that every bit of progress will help, and that making it cheaper for Americans to access fitness and wellness is a good first step.  

“Everyone throws up their hands and says, ‘People don’t want to exercise, they don’t want to take supplements, they don’t want to eat healthy,’” Means said, hitting back at the argument that Americans’ health problems stem from laziness rather than economics. “I guarantee you, if we steer more money and more medical recommendations to these root-cause items, there’d be a transformation of American health.”

The post Truemed’s Calley Means: Fitness Industry Has ‘Generational’ Health Opportunity appeared first on Athletech News.

Peloton is making it easier for Americans to purchase fitness equipment with tax-free healthcare funds, partnering with payment solutions company Truemed to offer an HSA/FSA check-out option. 

Through the partnership, Peloton customers in the United States can use their pre-tax health savings account (HSA) and flexible spending account (FSA) dollars to buy Peloton equipment including the Peloton Bike, Bike+, Tread, Tread+ and Row. 

On the Peloton website, U.S.-based consumers can select a “pay with HSA/FSA funds” option at checkout for qualifying purchases, where they’ll be redirected to the Truemed site to complete the steps needed to obtain a letter of medical necessity (LMN) and use their HSA/FSA funds to buy equipment. 

According to Peloton and Truemed, consumers can save up to 40% on their purchase of Peloton equipment by taking advantage of HSA/FSA funds, which are pre-tax accounts that Americans can use to pay for qualified healthcare costs ranging from medical bills to eyeglasses to fitness products. 

The HSA/FSA market is valued at around $150 billion, with many Americans opting in to contribute funds and sometimes struggling to spend them on qualifying purchases. 

“Root-cause interventions are a critical part of healthcare, and helping people find what uniquely works for them is key in sustaining these long-term commitments,” said Justin Mares, co-founder and CEO of Truemed. “With a global player like Peloton, we’re helping connect consumers with more of the health practices they love as we continue our work in improving access, options, convenience, and incentives.”

Fitness Brands Embrace Healthcare Spending 

Peloton becomes the latest major fitness and wellness brand to make it easier for customers to use HSA/FSA funds to purchase things like equipment, gym memberships and supplements. 

Truemed has struck similar partnerships with brands including Crunch Fitness, CrossFit, Momentous and Plunge. Most recently, the payment solutions company partnered with CorePower Yoga to help people unlock HSA and FSA funds for yoga classes and memberships at the popular chain. 

Other digital platforms have cropped up to help fitness brands take advantage of HSA and FSA spending. 

Telehealth provider Dr. B has struck partnerships with brands including F45 Training, SoulCycle and boutique fitness software platform Xplor Mariana Tek. Smart home fitness brand Tempo recently partnered with Flex to make its AI-powered strength training products available for purchase with HSA and FSA funds.  

Last year, wellness and recovery tech brand Hyperice partnered with Sika Health to allow customers to use HSA and FSA funds on the brand’s Hypervolt, Normatec, Venom, Hyperice X, Vyper, Hypersphere and compression wearables lines.

The post Peloton, Truemed Partner To Enable HSA/FSA Spending on Fitness Equipment appeared first on Athletech News.

Truemed, a payment solution company that simplifies the process for consumers to use their tax-free savings accounts to access health and wellness services and products, has partnered with CorePower Yoga.

The collaboration allows qualified yoga students to unlock their Health Savings Account (HSA) and Flexible Spending Account (FSA) benefits for CorePower classes and memberships.

A recent data brief from the CDC reveals that approximately one in six Americans are yoga enthusiasts, demonstrating that yoga remains one of the most popular mind-body practices. CorePower Yoga has over 220 studio locations in the U.S. and offers both live and on-demand classes and yoga teacher training.

“Accessibility and democratizing yoga are key pillars we strive for at CorePower Yoga in all facets of the business,” CorePower Yoga’s chief marketing and commercial officer, Sarah Choi, said. “This partnership with Truemed is a meaningful step forward on our brand mission and underscores the importance of yoga as a powerful health intervention.”

Interested yoga enthusiasts complete a health intake survey from Truemed, which is reviewed by a licensed healthcare practitioner. If eligible, they will receive a Letter of Medical Necessity, allowing them to reimburse their CorePower Yoga purchases using pre-tax HSA/FSA funds.

“Yoga is more than just exercise; it is an effective non-pharmaceutical intervention for various conditions, such as heart disease and depression,” Truemed co-founder and CEO Justin Mares. “We’re excited to partner with CorePower Yoga to help make this practice more accessible by enabling eligible individuals to use HSA/FSA funds where applicable.”

Truemed’s partnership with CorePower Yoga follows a similar deal it forged earlier this year with the National Academy of Sports Medicine (NASM) so that consumers can use tax-free funds for personal training, gym memberships, exercise classes, equipment, supplements, and sleep aids. Last month, Truemed also partnered with BODi, enabling qualified consumers to purchase BODi health and fitness supplements.

Pre-Tax Wellness

As gyms and luxury clubs continue to integrate health and wellness offerings within their facilities, fitness brands are making it easier than ever for consumers to tap into their FSA and HSA accounts for products, membership, and classes. Most recently, smart home fitness brand Tempo partnered with Flex to make its AI virtual personal training program more accessible via HSA and FSA accounts.

Additionally, Dr. B, a telehealth provider, has partnered with Xplor Mariana Tek, F45, and SoulCycle to save consumers money and invest in their health and wellness.

Wellness and recovery tech brand Hyperice has also joined the movement, partnering last year with Sika Health so consumers can use their funds for Hyperice products, such as the brand’s Hypervolt, Normatec, Venom, Hyperice X, Vyper, Hypersphere, and compression wearables lines.

The post Truemed and CorePower Yoga Partner to Make Yoga More Accessible appeared first on Athletech News.

Personal training clients with health savings or flexible spending accounts (HSA/FSA) can now use those funds to pay for sessions on a tax-free basis, thanks to a new partnership between health-focused company Truemed and the National Academy of Sports Medicine (NASM). The deal makes it easier for clients to access up to 40% in additional “free money” to put towards fitness,

This collaboration taps into the $150 billion available in consumer HSA and FSA funds, marking a new direction in how fitness services can be financed.

The partnership provides a way for clients to use tax-free funds for a range of health-related expenses, including gym memberships, exercise classes, equipment, and even wellness products like supplements and sleep aids. These expenses can now be included as qualified medical expenses, contingent on obtaining a Letter of Medical Necessity (LMN) that links these services or products to the prevention or treatment of specific health issues.

“This partnership empowers our community of passionate fitness professionals to extend their impact on a client’s overall healthcare journey,” said Jeremy Guenther, director of business development at NASM. “We’re delighted to deliver a pathway that equips our professionals with a means to help their clients get more out of their investment, while boosting retention rates and expanding their overall reach in the process.”

For personal trainers and wellness product affiliates, this partnership could lead to increased financial benefits. The system is designed to potentially boost average order volumes by 36% and retention rates by 42%, according to Truemed’s data. This increase is attributed to the ability of customers to utilize up to 40% more funds through their HSA/FSA accounts.

The process for affiliates to participate in this program involves signing up with Truemed, receiving a customer link, and then marketing this link to their audience. An independent medical provider will determine if a client is eligible for HSA/FSA funding and, if approved, will issue an LMN so they can use tax-free funds to pay for their fitness and wellness professional fees.

NASM-certified trainers can enroll in the program at no additional cost.

Truemed’s co-founder, Calley Means, emphasized the gravity of this initiative in making personalized fitness programs more accessible and affordable for clients.

“It is important for clients to have access to consistent, personalized exercise programs to support their overall health,” Means said. “We are honored to be partnering with NASM to make HSA/FSA spending on personal training seamless.”

The post NASM, Truemed Partner To Enable Tax-Free Spending on Personal Training appeared first on Athletech News.