Can you use HSA for Peloton Bike?
Asked by: Mariela Lockman | Last update: March 26, 2025Score: 4.1/5 (6 votes)
Can I use my HSA to pay for 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 use my HSA to buy a 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 HSA for exercise equipment?
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 I use my FSA card for a Peloton bike?
Truemed partners with health and wellness brands, enabling you to use your HSA/FSA funds for health-related purchases. With Truemed, you can obtain a Letter of Medical Necessity (LMN) from a licensed medical provider, allowing you to use these funds for your Peloton equipment.
DIY Peloton Bike hack - don't buy a Peloton bike until you watch this!
Can I use HSA to buy Apple Watch?
Why other fitness trackers don't qualify. Even though Fitbits and Apple Watches measure important health data, they currently do not qualify for HSA reimbursement, as they are considered for general health use and not intended to treat or manage a specific medical condition.
Can I use my HSA to pay for pilates?
🌟 Did you know you can use your pre-tax HSA/FSA funds for your Pilates classes? If you're exercising to manage a medical condition, you could save up to 40%!
Can I pay my gym membership with HSA?
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 deodorant HSA eligible?
Deodorant reimbursement is not eligible with a flexible spending account (FSA), health savings account (HSA), health reimbursement arrangement (HRA), limited-purpose flexible spending account (LPFSA) or a dependent care flexible spending account (DCFSA).
Can I buy a sauna with my HSA?
The key to using your HSA/FSA funds for a sauna purchase is obtaining a letter of medical necessity (LMN). This letter justifies your sauna as a necessary medical expense for treating or alleviating a specific condition.
What can I not spend HSA on?
For example, nutritional supplements that aren't prescribed by your doctor aren't covered. Health club memberships and lactose intolerance medications typically aren't covered either. Here are some examples of non-qualified HSA expenses: Babysitting or child care (a dependent care FSA can help with child care)
Are fitness apps HSA eligible?
In most cases, fitness expenses require a Letter of Medical Necessity (LOMN) to qualify for HSA/FSA spending. This means that the fitness app must be considered essential for treating, monitoring, or preventing a specific health condition and the expense would not have been incurred but for the condition.
Can I use HSA for a car?
These transportation expenses qualify if they are primarily for and essential to medical care. Reimbursable expenses include car/rental car, bus, taxi, train, plane & ferry fees. Ambulatory services, parking and toll fees are also included.
Can I buy an electric bike with my HSA?
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.
Why are gym memberships not HSA eligible?
Gym memberships are generally not considered qualified medical expenses under IRS guidelines. While physical fitness is important, gym memberships are typically viewed as personal or recreational expenses rather than a medical necessity. So using HSA funds for them could result in taxes and penalties.
How to get a letter of medical necessity for exercise equipment?
Eligibility with Letter of Medical Necessity (LMN): If a doctor prescribes exercise equipment to treat a diagnosed medical condition, you may be able to use FSA funds. To get an LMN, your doctor needs to detail the specific condition and how the equipment will directly aid in its treatment or management.
What happens if I accidentally used my HSA card for groceries?
You can repay the incorrect distribution before filing your federal taxes for that tax year. However, if you do not correct the mistake, the unqualified amount will be subject to income tax, and you may also face an additional 20% tax penalty.
Can I buy tampons with HSA?
Yes! Thanks to the CARES Act, tampons are now considered a “medical expense.” That means you can use pre-tax income to pay for them through your HSA. More questions about tampons?
Can I buy a toothbrush with HSA?
Unfortunately, most products for oral health care are not currently eligible medical expenses for FSA and HSA spending.
Can you use HSA for Peloton?
Peloton has officially rolled out their partnership with Truemed, expanding a new payment option for members who want to use Health Savings Accounts (HSA) or Flexible Spending Accounts (FSA) for buying a Peloton Bike, Tread, or Row.
Is the Apple Watch HSA eligible?
Unfortunately the answer to this question is usually no. This is because according to the IRS, fitness trackers are used to promote what the IRS terms “general health”. Expenses under this general health definition are not considered HSA eligible expenses.
Can I use my HSA for massages?
Your HSA can pay for massage therapy, though you'll likely need a letter of medical necessity (LMN) from your doctor. An LMN states what condition the treatment is for, how many sessions you need, and any other relevant details. An HSA may also be used on alternative or holistic treatments, such as: Massage therapy.
Is Planet fitness HSA eligible?
In most cases, gym memberships are not considered eligible medical expenses by the IRS. This means you typically cannot use your HSA funds to pay for a gym membership directly.
Can I use HSA for glasses?
Yes! You can definitely use funds from your flexible spending account (FSA) or health savings account (HSA) to purchase prescription glasses. (FSAs and HSAs can be used for many other vision- and eye health-related expenses, too, but we'll discuss that more in a bit.)
Can I use HSA for vitamins?
In general, vitamins are not considered an HSA eligible expense unless they are prescribed by a doctor for a specific medical condition. For example, if your doctor prescribes prenatal vitamins during pregnancy or recommends vitamin D supplements to treat a deficiency, those could be eligible expenses under your HSA.