Can I buy a bike with my FSA?
Asked by: Prof. Melody Lesch II | Last update: February 1, 2025Score: 4.9/5 (25 votes)
Are exercise bikes FSA eligible?
FSA/HSA funds can be used across a range of healthcare, including on fitness equipment. Meaning, you can use your pre-tax dollars to pick up a new massage gun, compression socks, or even a Peloton bike—and save money in the process.
Can I use my FSA for a Peloton?
Yes. A medical practitioner can issue a Letter of Medical Necessity to a patient who meets the requirements to qualify to use HSA/FSA funds on health and wellness purchases, as set forth by the Internal Revenue Service.
Can I put my gym membership on my FSA?
While some companies and private insurers may offer discounts on gym memberships, you generally can't use your FSA or HSA account to pay for gym or health club memberships. An exception to that rule would be if your doctor deems fitness medically necessary for your recovery or treatment.
Is Planet fitness FSA eligible?
Can you use flexible spending account (FSA) funds to pay for a gym membership or exercise classes? Typically, no. The Internal Revenue Service (IRS) usually doesn't allow funds from an FSA to pay for membership dues at health clubs or gyms.
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Are Apple watches FSA eligible?
Likely not. While your Apple Watch, Garmin, or other tracker may offer you some insight—and maybe even some encouragement—to stay on top of your fitness routine, they are not typically considered medical devices for purposes of FSA and HSA funds.
Can I use FSA for sports?
You can buy a wide range of athletic gear and medical supplies with FSA/HSA dollars. This includes electrolyte packs, medicine, muscle rubs, KT Tape, glasses, contacts, and more. Much fitness equipment is also covered. But you may need a note from your doctor telling your insurance why you need them.
Can FSA pay for massage?
Massage Therapy may be eligible for reimbursement with a Letter of Medical Necessity (LMN) with flexible spending accounts (FSA), health savings accounts (HSA) and health reimbursement arrangements (HRA).
Are sunglasses FSA eligible?
You can use FSA dollars on sunglasses, as long as they are prescription sunglasses. Some non-prescription sunglasses can be purchased with HSA or FSA dollars, but you will most likely need a prescription for the shades from your doctor.
Are vitamins FSA eligible?
Vitamins and supplements used for general health are not FSA eligible. But you may use your FSA funds to purchase vitamins and supplements used to treat a specific condition.
Can you use FSA for bike?
For this, you will need a letter of medical necessity. This is where services like Truemed come in to provide such documentation. This is how Zwift and Wahoo can accept payment for things like smart bikes and trainers from an HSA/FSA account, which are not medical devices in the traditional sense.
Can I use my FSA to buy a treadmill?
If you have a letter from a medical professional stating that exercise equipment is a medical necessity, your FSA can cover it.
Can you buy shoes with FSA?
Orthopedic shoes with a Letter of Medical Necessity (LMN) are eligible for reimbursement with a flexible spending account (FSA), health savings account (HSA), a health reimbursement arrangement (HRA).
Are air purifiers FSA eligible?
Air purifiers are generally not eligible for reimbursement. An air purifier may be eligible for FSA reimbursement with a Letter of Medical Necessity (LMN) only if you are using it to relieve or alleviate a specific medical condition and you would not otherwise have purchased it.
What does FSA mean in bikes?
FSA stands for Full Speed Ahead! This American designer of premium components came out with a compact crankset for road bikes before the competition had even thought of it. Our selection of FSA components includes high-quality bicycle parts for both MTB and Road Bikes.
Is sunscreen FSA eligible?
You can use your flexible spending account (FSA) to buy broad-spectrum sunscreens with a minimum SPF of 15 using pretax dollars. A variety of items that offer sun protection, including lip balms, lotions, and moisturizers, might also qualify for these funds. Many FSA plans offer debit cards to make using funds easier.
Are gym memberships FSA eligible?
The IRS considers health club and gym membership fees “general health expenses,” and not something that automatically qualifies as medical care. Unfortunately, this means gym memberships are not considered FSA eligible without an LMN.
Are electric toothbrushes FSA eligible?
Unfortunately, most products for oral health care are not currently eligible medical expenses for FSA and HSA spending.
Are diapers FSA eligible?
Regular diapers for newborns and infants are not FSA eligible because they do not treat a medical condition, but rather aid a healthy function of the body. There are some ways to save, however, including sales, coupons, buying in bulk or joining rewards programs.
Can you use FSA for Peloton?
The partnership will make it easier for qualified US-based Peloton customers to use pre-tax Health Savings Account (HSA)/Flexible Spending Account (FSA) dollars to purchase applicable Peloton products, saving customers up to 40% off their purchase.
Can I use FSA for dental?
You can use funds in your FSA to pay for certain medical and dental expenses for you, your spouse if you're married, and your dependents. You can spend FSA funds to pay deductibles and copayments, but not for insurance premiums.
Can you use FSA for tampons?
Are Tampons FSA Eligible? Yes! Tampons are now classified as a “medical expense,” making them FSA eligible.
Is a bicycle FSA eligible?
No, exercise equipment is not an FSA-approved expense.
After your FSA admin gives you the green light, you can go to a medical care professional to get a letter of medical necessity. And only at that point does it make sense to transact the purchase to have guaranteed FSA reimbursement.
Is toilet paper FSA eligible?
Here are examples of items and expenses that are not FSA-eligible for 2024: General health items: toiletries like toothpaste, toilet paper, or shampoo, cosmetic products, vitamins and supplements (without a prescription) Non-medical equipment: car seats, strollers, non-medical exercise equipment.
Is Gatorade covered by FSA?
You can grab a pack of ORS using your HSA or FSA funds without a prescription. However, rehydration sports drinks (think Gatorade) and electrolyte solutions containing additional additives (such as caffeine, immunity boosters, or the like) are not eligible.