The wellness industry is expanding rapidly, driven by consumers’ growing interest in health and their desire for greater control and transparency. As more health spending shifts beyond the doctor’s office to direct-to-consumer products and services, there is a critical need to bridge the financial gap between health and healthcare. Flex, an HSA/FSA solution provider, is at the center of this unification.

“Consumers are increasingly taking control of their health journey, leveraging technology and at-home solutions to monitor and improve their wellbeing through diagnostic tests, wearables, apps and lifestyle interventions,” said Sam O’Keefe, Flex CEO. “Our goal is simple: to make HSA/FSA payments available wherever consumers spend on their health.”

Health savings accounts (HSAs) and flexible spending accounts (FSAs) present a sizable revenue opportunity for fitness and wellness brands. With over $150 billion available in these accounts, consumers have substantial funds to invest in their well-being.

Alternative payment methods have already proven to be powerful drivers of growth — whether through buy now, pay later options in e-commerce or ACH payments in fitness studios. These solutions not only attract new customers and members but also improve retention over time. Flex empowers brands to harness these payment innovations, unlocking new revenue streams and turning up customer engagement.

Clearing Complexities

Flex provides a seamless, expert-driven solution for fitness and wellness brands looking to accept HSA/FSA payments. The platform not only enables eligibility at checkout but also simplifies the entire process, offering expertise in compliance, reimbursement and required documentation.

Flex supports eligible payments, letters of medical necessity, reimbursements and more — all while ensuring smooth transaction completion. Getting started is quick and hassle-free, with no scheduling required. Instead, users can complete a chat-based telehealth visit with a licensed healthcare provider to obtain the necessary documentation for HSA/FSA reimbursement.

“We start by conducting a thorough review of your products and services,” explained O’Keefe. “Through this audit, we determine which items can be automatically approved and which require a Letter of Medical Necessity to comply with IRS guidelines. Based on these findings, we customize your HSA/FSA integration to create the smoothest possible checkout experience.”

Flex then facilitates payment through a single, streamlined checkout flow designed to maximize conversion rates. Its real-time analytics dashboard also gives brands clear visibility into their HSA/FSA transactions, enabling them to manage and optimize these channels effectively.

Beyond payments, Flex actively connects its community of high-intent HSA/FSA buyers with partner brands through the Flex Market, newsletter and social media channels. This not only keeps both businesses and consumers well-informed but also helps drive more sales and savings.

The HSA/FSA Difference

Flex reports their partners have attracted new customers, higher average order value and boosts in subscription retention. Consumers also benefit by saving 30–40% on purchases made with their HSA/FSA, Flex says. 

“By accepting HSA/FSA payments, businesses can attract this growing segment of health-conscious customers who actively manage their wellness journey,” said O’Keefe. “The ability to use HSA/FSA funds makes wellness products more accessible and affordable.”

More is Coming

As HSA/FSA adoption accelerates across the health and wellness industry, Flex is experiencing rapid growth, bringing its payment solutions to an expanding network of partners. The platform is already powering payments for leading brands such as Echelon, Kineon, iFIT, Trainwell, Ultrahuman, Ampfit and others, helping them unlock new revenue streams through HSA/FSA eligibility.

Since launching this partnership [with Flex], we’ve seen significant growth in HSA/FSA transactions, benefiting both our customers and our business, “ Echelon founder and CEO Lou Lentine said.

“We’re constantly expanding our capabilities — whether that means integrating with new platforms or refining our checkout process to maximize conversion rates,” added O’Keefe. “Every improvement we make is focused on one thing: helping our partners succeed.”

The post Unlocking Growth: How HSA/FSA Payments Drive Revenue for Wellness Brands appeared first on Athletech News.

Flex, a Health Savings Account (HSA) and Flexible Spending Account (FSA) payment solution, has teamed up with amp, makers of a sleek, AI-powered at-home fitness device that delivers a personalized workout experience.

Now, consumers can use their HSA and FSA funds to purchase amp’s fitness device.

The premium fitness equipment company joins a growing list of Flex partners, which includes Echelon, recovery wellness tech brand Kineon, smart ring maker Ultrahuman, Forme, Centr, CorePower Yoga, Orangetheory, iFIT and Tempo. 

Behind amp is founder and entrepreneur Shalom Meckenzie, the largest shareholder in DraftKings. Last fall, the company officially launched amp for pre-orders.

“amp is redefining fitness with cutting-edge AI technology and award-winning design, creating a smarter, more personalized training experience that pushes limits and delivers results,” amp CPO Amir Levanon said. “Partnering with Flex empowers our customers to invest in their health seamlessly, using pre-tax dollars to access our smart fitness device without financial barriers.”

Unlike traditional at-home fitness equipment, which tends to be bulky, amp’s gym system is noticeably stylish and compact but mighty. It has a minimum weight of 5 pounds and the flexibility to level up to 100 pounds of digital resistance. 

Users can easily adjust weight amounts in real time or manually, and there are three smart resistance modes available: Fixed, Band and Amplify. Fixed mode maintains constant weight throughout the entire range of motion, while Band adds resistance the further a user gets from the starting position. Amplify mode adds resistance when returning to the starting point. A subscription-based app guides users through gamified workouts and allows users to participate in challenges and compete on the leaderboard. 

The post Flex Adds amp to Its Lineup of HSA & FSA-Eligible Fitness Brands appeared first on Athletech News.

Orangetheory Fitness has embraced fitness as medicine, partnering with telehealth platform Dr. B to allow its members to use tax-free health savings account (HSA) and flexible savings account (FSA) funds on memberships, classes and equipment. 

Through the partnership, qualifying Orangetheory members can obtain a letter of medical necessity (LMN) stating that they exercise to treat or prevent a medical condition. If approved, Orangetheory members can use their HSA/FSA funds to pay for memberships, class packs and a heart rate monitor at the popular group fitness brand. 

A fast-growing telehealth platform, Dr. B streamlines the process of obtaining an LMN so fitness enthusiasts can use HSA/FSA funds to purchase things like gym memberships, classes and personal training. The platform offers a $15 online consultation that users can complete on their phone; if approved, patients can receive an LMN within one day. 

According to Dr. B, Orangetheory members might save between 20-40% on their workouts by using 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.

On its website, Orangetheory also offers an LMN template that its members can share with their healthcare providers to facilitate the process of obtaining a letter. 

HSA/FSA Funds Gain Ground in Fitness

Orangetheory is one of the biggest fitness brands to embrace HSA/FSA spending, but it’s not the first. Dr. B has struck similar partnerships with brands including F45 Training, BODi (formerly Beachbody) and boutique fitness software provider Xplor Mariana Tek. 

Another telehealth platform, Truemed, has partnered with brands including Peleton, Crunch Fitness and CorePower Yoga to enable HSA/FSA spending on fitness. Hyperice has partnered with Sika Health to allow HSA/FSA spending on the brand’s popular recovery tech items like massage guns and compression boots. 

The HSA/FSA market represents a big opportunity for fitness and wellness brands, having been valued at around $150 billion. Many Americans opt in to contribute funds but some struggle to spend them on qualifying healthcare purchases. 

While the fitness industry has long struggled to make the case to lawmakers in Washington, D.C., that working out should be treated as a form of preventive healthcare, there’s some optimism in industry circles that things could progress under the incoming Trump administration, which has signaled a desire to implement healthcare reform.

“We’re super excited because we’re facing an administration (where) for the first time … we see a receptive voice to understanding the benefits of physical activity and the intervention that’s needed from the federal government to allow more people to have access to it,” Health & Fitness Association vice president of government affairs Mike Goscinski said during Athletech News’ 2025 CEO Summit in New York City last week. 

The post Orangetheory Adds HSA/FSA Payments Through Dr. B appeared first on Athletech News.

Fitness and wellness companies leveraging payment providers are quickly seeing the benefits. 

Such is the case for light therapy tech brand Kineon, the latest recovery leader to partner with Flex, a health and wellness payment solution provider.

The partnership allows Kineon customers to access their Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) to purchase Kineon’s MOVE+. The FDA-registered and medical-grade laser uses red and infrared light therapy to address pain and inflammation and can be used on any part of the body.

“At Kineon, we’re dedicated to helping people take control of their health and recovery, reducing pain and inflammation, and getting back to healthy movement,” Kineon CEO Forrest Smith said. “Our partnership with Flex makes it easier than ever for customers to use pre-tax dollars on transformative products like the MOVE+.”

Smith noted that since the collaboration, Kineon has seen a notable increase in HSA/FSA transactions, which has been a revenue growth driver. 

“Our mission at Flex is to help consumers maximize their HSA/FSA benefits while accessing the best in wellness innovation,” Flex CEO Sam O’Keefe said. “By teaming up with Kineon, we’re streamlining the payment experience and supporting a brand that’s revolutionizing recovery and well-being.”

Kineon joins other wellness and fitness brands using Flex’s pre-tax savings solution, such as smart ring maker Ultrahuman, Forme, Centr, CorePower Yoga, Orangetheory, iFIT, Tempo and more.

The post Kineon’s MOVE+ Gains Traction with Flex HSA/FSA Integration 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.

Dr. B, an emerging telehealth provider focused on making healthcare more affordable and accessible, has signed partnerships with Xplor Mariana Tek and BODi to allow customers of those brands to use flexible savings account (FSA) and health savings account (HSA) funds to cover the costs of fitness memberships and classes.

Dr. B has established similar HSA/FSA partnerships with major fitness brands including F45 and SoulCycle. 

Qualified members of participating studios on Xplor Mariana Tek’s boutique fitness software platform can take an online health consultation on Dr. B’s website and obtain a Letter of Medical Necessity. This document allows them to tap into their HSA/FSA funds for memberships and different fitness classes such as Barre, Pilates, HIIT, and personal training. Using these pre-tax dollars can lead to significant cost savings — up to forty percent.

“It’s wonderful to see so many people investing in their physical and mental health in ways that are financially feasible, whether that be through Pilates, yoga, or group fitness,” said Cyrus Massoumi, founder and CEO of Dr. B.” Our collaboration with Xplor Mariana Tek not only makes these options more attainable but also eases the financial burden on consumers, making health and wellness more inclusive.”

BODi members can follow a similar procedure to use HSA/FSA funds for the platform’s online fitness and wellness classes such as P90X, Insanity, and 21-Day Fix

The partnerships come as the fitness and wellness industry recognizes the potential of HSA/FSA funds to drive more participation. Companies like Hyperice have also started accepting these funds. In 2022, a record number of Americans were covered by HSAs—nearly 72 million, up from 6.5% in 2021. Around $123 billion was held in over 37 million HSAs at the end of 2023. 

The boutique fitness industry is thriving as more people prioritize their health and wellness. Partnering with Dr. B, a brand that champions a consumer-first approach, aligns perfectly with our mission,” said Shannon Tracey, vice president of sales and marketing for Xplor Mariana Tek. “We are excited to be the first boutique software platform partnered with Dr. B, extending more accessible fitness and wellness services to meet consumer lifestyles.”

Earlier this week, the Health & Fitness Association and a group of 120 industry leaders flew to Capitol Hill to urge lawmakers to pass the Personal Health Investment Today (PHIT) Act, which if passed would allow Americans to use HSA/FSA funds on things like gym memberships, fitness equipment and youth sports.

The post Dr. B Partners With Xplor, BODi To Expand HSA/FSA Funds in Fitness appeared first on Athletech News.

Adam Zeitsiff has been in the global fitness industry for almost two decades and is currently Chief Information Officer at LA Fitness. He is also Chair of the National Health & Fitness Alliance (NHFA), which is the state and federal advocacy Advisory Board for the HFA (formerly IHRSA). You can find Adam on LinkedIn here

For almost two decades I’ve had the privilege of serving the health and fitness industry from within. I’ve witnessed firsthand the transformative power of exercise for individuals, families, businesses and our country. As Chair of the National Health and Fitness Alliance and a proud member of the fitness industry, I firmly believe that the Personal Health Investment Today (PHIT) Act is a game-changer, not just for our industry’s growth, but for the wellbeing of all Americans.

The numbers paint a concerning picture: in the U.S., chronic illnesses stemming from inactivity cost over $1 trillion annually. Yes, that’s trillion with a “T.” Beyond the staggering financial burden, the human cost is devastating. Poor health robs our citizens of vitality, productivity and even lifespan. 

And our children are not immune to this crisis, with the childhood obesity rate alarmingly high since the dawn of the COVID crisis. A study by the World Obesity Federation forecasts that 250 million children and adolescents around the world will be considered obese by 2030, with 17 million of those being in the United States (almost 25% of our country’s kids). Just staggering. 

We all intuitively know that regular exercise is a vital pillar of a healthy life, and the science backs it up. Yet, access to fitness facilities, programs, and equipment remains out of reach for many Americans. The PHIT Act tackles this challenge by unlocking pre-tax health savings and spending accounts (HSA/FSA) for the purpose of fitness expenses. For individuals and families, this means up to $1,000 per year per person or $2,000 a year per family could be dedicated to:

• Gym memberships: Joining a fitness facility opens a world of exercise options, expert guidance and community support.

• Fitness classes: From yoga and Pilates to dance and strength training, classes provide structure and motivation.

• Sports and activity programs: These can range from children’s sports leagues to adult recreational activities, promoting healthy competition and social connections.

• Exercise equipment: Investments in youth sports and exercise equipment make activity more accessible to our children.

The PHIT Act benefits our nation in several ways:

• Healthier citizens: When people have resources for exercise, they naturally move more. Improved cardiovascular health, stronger bodies and better mental wellbeing are just some of the rewards. This translates to fewer sick days, reduced healthcare costs and a more robust American workforce.

• A matter of National Security: A study performed by the U.S. Army Public Health Center, the American Heart Association and The Citadel found that 27% of all 17-to-24-year-olds are too overweight to qualify for military services. In addition, 47% of all males and 59% of all females failed to pass the Army’s entry-level fitness test upon entry into the service. This is SCARY and translates to a significant pool of potential recruits unable to serve due to preventable health issues. The PHIT Act can play a vital role in reversing this trend by promoting physical activity from a young age, fostering a generation better prepared to defend our nation.

• Stronger families: Exercise as a family creates healthy habits and builds bonds. The PHIT Act helps make sports and other youth activities more affordable for parents and kids, nurturing lifelong physical and social skills. 

• Economic growth: While less tangible, the ripple effects are enormous. A fitter America means more productivity and fewer insurance claims. The fitness industry, already a major employer, will expand and generate new jobs.

The fitness industry has faced setbacks over the last few years, but our role in society has never been more crucial. In the wake of a pandemic that emphasized health disparities, we’re ready to help America rebuild healthier bodies and minds. However, we can’t do it alone. The PHIT Act makes consumers our partners by empowering them to choose fitness. Let’s clarify a few key points:

• Choice remains paramount: No one is mandated to spend their HSA/FSA funds on fitness. But for those who value exercise, the opportunity would exist.

• This is not a bailout: Strong fitness companies will thrive with broader consumer access. The Act doesn’t subsidize poorly run businesses but rather invests in Americans’ choice to pursue wellness.

• Tax implications are minimal: The revenue lost is far outweighed by the potential savings in healthcare costs down the line.

I urge every citizen, whether a gym enthusiast or someone just starting their health and fitness journey, to contact your elected representatives and express your support for the PHIT Act.

This legislation is more than industry politics; it’s a matter of investing in the future health, prosperity and happiness of our great nation.

Let’s make physical activity accessible for all. Let’s pass the PHIT Act.

The post The PHIT Act: A Win-Win for American Health & Wellness appeared first on Athletech News.

F45 Training, the Mark Wahlberg-backed functional fitness franchise, has partnered with New York-based telehealth platform Dr. B so its members can access their Health Savings Accounts (HSA) and Flex Savings Accounts (FSA) to pay for classes. 

Current F45 members with HSA or FSA accounts who work out to prevent or treat a medical condition can consult with Dr. B to see if they qualify. Members who do will receive a letter of medical necessity, which can be submitted to their HSA or FSA administrator, along with their F45 monthly member receipts, for reimbursement.

“Regular cardiovascular and strength exercise is one of the most important aspects of maintaining a healthy lifestyle,” said Tom Dowd, CEO of F45. “As a leader in functional fitness, F45 aims to make exercise accessible and approachable to all. By partnering with Dr. B, we will be able to deliver our award-winning group fitness to even more members.”

Fitness Brands Embrace HSA/FSA Funding

Cyrus Massoumi, founder and CEO of Dr. B, is an F45 member – and says he’s thrilled over the partnership’s ability to make exercise a more affordable and accessible care option.

“It’s about time we make the process of prioritizing health through fitness less of a hassle,” said Massoumi, who also founded Zocdoc, a telehealth service to find and book medical and dental care appointments. “Our partnership will do just that, helping many people prevent or treat their condition with the support of F45’s stellar team.”

In addition to F45, the telehealth platform recently partnered with SoulCycle and FlexIt last month to launch a new service allowing fitness enthusiasts to use HSA/FSA funds for gym memberships and fitness app fees in as little as three hours.

The New-Look F45

F45’s latest collaboration follows several initiatives the functional fitness franchise has unveiled under the leadership of Dowd, who has been committed to reenergizing the brand and positioning it for long-term success after taking the reins one year ago.

After voluntarily delisting from the New York Stock Exchange last summer, F45 has made strides to improve, including a revamped website, improved digital presence, branded merchandise, tech partnerships and a renewed reliance on the star power of Wahlberg, who is more than just a famous face of the brand and investor, but chief brand officer and an F45 franchise owner.

The post F45 Teams With Dr. B To Offer HSA/FSA Savings for Members appeared first on Athletech News.

Dr. B, a telehealth platform focused on affordable, accessible healthcare, has partnered with SoulCycle and FlexIt on a new service allowing fitness enthusiasts to easily use pre-tax HSA/FSA funds for gym memberships and fitness app fees in just three hours.

The New York-based Dr. B comes as Gen Z and Millennials are increasingly looking towards fitness as a vehicle to overall well-being and prevention but remain cost-conscious. 

“Having lived through the financial upheaval of the last decade, young adults are thriftier than the generations before them,” said Cyrus Massoumi, founder and CEO of Dr. B. “At the same time, coming into adulthood during the pandemic means they’re actively invested in their physical and mental health.”

“Our new service makes it simple for people who need it to get and stay healthy—while still prioritizing their financial future,” added Massoumi, who also founded Zocdoc, a telehealth service to find and book medical and dental care appointments.

While accessing HSA/FSA funds for fitness typically means filing a Letter of Medical Necessity from a licensed provider who confirms that exercise can prevent or treat a specific condition, Dr. B offers a straightforward, time-saving approach with its telehealth service — no appointment or video meeting is required. 

For a fee of $15 for those 18 and older, patients virtually connect with a provider in their state using a chat-based online consult process where providers review consultations 365 days a year, including on weekends and holidays. Qualified users receive a Letter of Medical Necessity via email within three business hours, making it quick to hit the gym, take a fitness class or sign up for a fitness app with HSA/FSA funds.

Expanding Access to Fitness

As Dr. B partners, SoulCycle and FlexIt will have dedicated pages to bridge current and potential members to the consultation platform easily. SoulCycle is also extending a 20% discount to new Dr. B riders to increase their cost savings.

“At SoulCycle, we believe that being well is a mind-body-soul commitment, and that doesn’t just happen in one place or with one activity,” said Doug Leonard, chief of staff and head of strategic initiatives at SoulCycle. “Movement and mindfulness are healthcare, and we are thrilled to partner with Dr. B and help consumers save on these essential activities.”

Austin Cohen, founder and CEO of FlexIt, said the company is pleased to help advance the mission of making health and wellness more accessible.

“By lowering the barrier of entry for new customers, we are excited to connect with more people—wherever, whenever,” Cohen said.

Can Telehealth Drive Fitness Memberships?

Dr. B’s streamlined approach helps consumers maximize their health benefits while also supporting fitness clubs, classes and apps to increase their member base. Although in-person fitness has rebounded significantly, fitness operators such as Planet Fitness are still looking to invite more fitness enthusiasts into their gyms.

Planet Fitness CFO Tom Fitzgerald indicated last month that the Judgement Free Zone gym isn’t trying to steal members from other concepts but is instead trying to target the 80% of the U.S. population that still doesn’t belong to a gym.

Dr. B’s HSA/FSA strategy can also support the number of consumers interested in taking GLP-1 weight loss medications, jumpstarting their confidence to hit the gym or a fitness class while giving them access to strength-building modalities. As experts have warned, while medications like Ozempic and Wegovy can kickstart weight loss, patients must be proactive in protecting and building their lean muscle mass. 

A variety of conditions can qualify for HSA/FSA fitness fee reimbursement, such as autoimmune disease, back pain, cancer, chronic fatigue, diabetes, fibromyalgia, high blood pressure, mental health conditions, migraines, obesity, polycystic ovary syndrome, pre-diabetes, physical injury, respiratory diseases, and sleep disorders

The post SoulCycle, FlexIt Partner With Dr. B To Make Fitness More Affordable 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.

Hyperice has forged a strategic partnership with Sika Health, allowing consumers to purchase Hyperice’s suite of wellness technology products using Health Savings Account (HSA) and Flexible Spending Account (FSA) funds.

Hyperice products that are now eligible for purchase through HSA and FSA funds include the brand’s Hypervolt, Normatec, Venom, Hyperice X, Vyper, Hypersphere and compression wearables lines.

Using HSA/FSA pre-tax funds offers substantial savings to consumers, often exceeding 30-50% on qualifying direct-to-consumer health and wellness purchases. With Sika Health’s integrated payment technology, Hyperice shoppers can now add their desired products to their cart, select Sika Health as the payment option at checkout, and input their HSA/FSA account details. Consumers don’t need to worry about eligibility checks, receipts or card declines. 

“Our partnership with Sika Health is a significant step forward in democratizing our recovery technology and empowering everyone on Earth to move better,” said Jim Huether, CEO of Hyperice. “Sika Health’s team of regulatory experts made the process of ensuring our products were compliant and eligible as seamless as possible.”

Ami Kumordzie, Founder and CEO of Sika Health, expressed excitement about broadening access to Hyperice’s products, noting that 70 million Americans have HSA/FSA accounts.

“Through partnerships with brands like Hyperice, we’re committed to giving consumers the guarantee that they can access and spend their HSA/FSA funds on items they want when they want, hassle-free,” Kumordzie said.

U.S. consumers contribute an estimated $150 billion to HSA/FSA accounts each year. By making Hyperice’s innovative products accessible through HSA and FSA funds, it not only provides consumers with substantial savings but also ensures that advanced recovery and wellness technology is within reach for millions of Americans.

The post Hyperice Accepts HSA/FSA Funds, Expanding Access To Wellness Tech appeared first on Athletech News.