Both Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) allow you to set aside pre-tax dollars for qualified medical expenses. Here’s how they differ when it comes to fitness equipment.

HSA (Health Savings Account):

An HSA must be paired with a high-deductible health plan. The funds roll over year after year with no “use it or lose it” requirement. You own the account, even if you change employers. HSAs can be invested for long-term growth and offer higher annual contribution limits than FSAs.

FSA (Flexible Spending Account):

An FSA is offered through your employer and typically has a “use it or lose it” policy, though some plans allow a small rollover or grace period. These accounts have lower annual contribution limits, and funds are only available while you’re employed with that company.The Bottom Line for Fitness Gear: The key difference for purchasing fitness equipment is that HSA funds don’t expire, giving you more flexibility to save up for bigger purchases.

Generally, home exercise equipment purchased solely for overall fitness and wellbeing isn’t covered by your HSA or FSA However, if the item is considered medically necessary as part of a treatment plan for a specific condition, it may be covered — but only with a Letter of Medical Necessity (LOMN) from a licensed healthcare provider.

This means that you’ll need to:

Consult with your doctor, who will evaluate if exercise equipment is essential for managing or treating your specific health condition.

Obtain a Letter of Medical Necessity (LOMN), which outlines how the equipment will help improve, treat, or maintain your health based on your medical needs.

Without this documentation, exercise equipment typically won’t qualify for HSA or FSA funds. Remember, the purchase must directly support the treatment or management of a medical condition, not just general fitness goals.

• Save Money – Use pre-tax dollars to reduce your out-of-pocket expenses.
• Fast & Easy – No complicated forms or long reimbursement processes.
• Invest in Your Health – Purchase top-tier fitness equipment to support your training and recovery.

HSA/FSA accounts were created so individuals could use pre-tax money to pay for expenses used to treat, mitigate, or prevent a diagnosed medical condition. Rather than pay taxes on income and then spend it on health items, qualified customers can use pre-tax funds to invest in their health. Because HSA/FSAs use pre-tax money, you’re getting more purchasing power for your dollars.